UK Savers Race to Use £20,000 ISA Allowance by April 5

British savers have just days left to maximize their £20,000 tax-free Individual Savings Account allowance before the current tax year ends on April 5, a deadline complicated by the coinciding Easter bank holiday weekend.

Financial experts warn that the holiday, starting April 3 in practice for many providers, leaves a narrow window for contributions to cash, stocks and shares, or other ISA products. Any unused portion of the allowance cannot be carried forward and is lost forever when the new tax year begins on April 6. ISAs allow savers to earn interest, dividends, or capital gains without paying tax, making them a key tool for building wealth amid rising interest rates and market uncertainty.

The urgency stems from recent geopolitical tensions, including the war in the Middle East and U.S.-Iran conflicts, which have fueled market volatility and made some investors hesitant. Asset prices have swung sharply, influenced even by social media posts from figures like Donald Trump. Despite this, advisers encourage action to secure the allowance. Rachael Griffin, tax and financial planning expert at Quilter, said, "With the tax year ending on Sunday, anyone needing to make changes...