Last minute dash expected as ISA season draws to a close

With the tax year ending at midnight this Sunday, investment service provider Willis Owen is expecting its busiest weekend of annual ISA sales as savers rush to beat the deadline. This is despite major pension freedoms coming into effect on Monday and the upcoming General Election prompting some retail investors to delay activity.

Jason Chapman, Managing Director at Willis Owen, said:

“We always see a last minute dash in the days leading up to the 5 April deadline, and we expect to see the same again this year. Even with the biggest changes to pensions in a generation occurring in just a few days’ time, ISAs remain a hugely popular product and won’t be forgotten by savvy investors.”

Willis Owen is urging people to take action now to ensure they beat the deadline. 10% of its total ISA sales are made in the final five days before the tax year end, a pattern they expect to be repeated this year.

Chapman added: “It’s important that investors don’t leave it to the last minute. By allowing a little extra time, savers can avoid those unforeseen stumbling blocks like not having enough cleared funds available in their bank account, forgetting to sign cheques or suffering internet issues.

“Our cash reserve facility remains a popular option with our customers, allowing them to secure their ISA allowance for the year but delay making a decision about where to invest it. Even if you’re not sure where to put your money, a pertinent issue this year with uncertainty around the Election, parking it in this facility means you won’t miss out on saving up to £15,000 tax-free.”

Willis Owen will be accepting applications right up until the following dates and times:

  • Phone applications: open until 3pm on Sunday 5 April
  • Online applications: open until 11pm on Sunday 5 April
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