The tax year ends on 5 April, and so does the chance to take out an Isa for 2020-21, with all its tax-free perks. But is it worth it?
In the final hour of the tax year last April, a stocks and shares Isa was opened or topped up every seven seconds on the systems of Britain’s largest retail investment company, Hargreaves Lansdown. There is nothing to focus minds more than a deadline, and the approaching end of the tax year on 5 April means people are increasingly looking at whether they should still opt to open an Isa – or lose the tax-free perks attached.
But with interest rates now so low, is there any point when it could end up delivering such minor gains?