When is the ISA deadline and how can you make the most of it?
The ISA (Individual Savings Account) deadline is at midnight on 5 April 2026. That’s your last chance to use this year’s £20,000 tax-free savings allowance. You can’t carry over what you don’t use, so if you miss it, it’s gone for good.
This guide explains what the deadline means for you and how to make the most of your allowance before time runs out.
Just so you know, we can’t give financial advice. If you’re not sure what’s right for you, it’s best to chat with a financial advisor.
One more thing to keep on your radar: the £20,000 limit for ISAs is remaining, but for anyone under 65, the cash ISA limit is dropping to £12,000 from April 2027. That means you’ll be able to put the extra £8,000 into other types of ISAs, like stocks and shares.
What’s the ISA deadline?
The ISA deadline falls on 5 April, which is the end of the UK tax year. That’s when your annual £20,000 ISA allowance resets. Any part of your ISA allowance you don’t use by the deadline doesn’t roll over to the next tax year. So if you haven’t used your full allowance, you miss out on that unused bit once the deadline passes. It’s a use it or lose it situation.
The tax year runs from 6 April to 5 April, so your ISA allowance follows the same dates. When the new tax year starts on 6 April 2026, you’ll get a fresh £20,000 allowance to use.
Want to learn more about ISAs? We’ve got a full explainer that covers the basics.
Why the ISA deadline matters for your savings
Using your ISA allowance means you can earn tax-free interest on savings or returns on investments. That might not sound like a big deal if you’re within the Personal Savings Allowance (you can earn £1,000 in tax-free interest for basic rate taxpayers, £500 for higher rate taxpayers). But ISAs can help you earn a level of tax-free interest year after year, and that adds up over time.
Let’s say you put £5,000 into an ISA earning 2% interest. You’d make £100 in interest in the first year – and that would be tax free, even if you hadn’t used an ISA, thanks to the standard savings allowance.
But here’s why the ISA deadline matters:
If you keep adding £5,000 each year, the interest you earn will build up over time
Eventually, you could earn more than your tax-free savings allowance (as a reminder, that’s £1,000 for basic-rate taxpayers and £500 for higher-rate taxpayers)
If that happens, any interest above your allowance could be taxed, unless your money’s in an ISA
If you save up to £20,000 straight into an ISA each year, all your interest stays tax free. But if you miss the ISA deadline this year, you can’t go back and use that year’s allowance. You’ll only be able to add up to £20,000 into an ISA in the next financial year, so you can’t move all your savings over if you go over that limit.
Using your ISA allowance each year means you won’t have to worry about juggling your savings around in the future. It’s a simple way to make sure your money keeps growing.
Because the compound effect is powerful. Money saved in an ISA can grow year after year without the interest you earn being taxable. That's especially helpful as you build long-term wealth; every year you use your allowance is another year of keeping more of the interest you earn.
Check out our Cash ISAs if you want to start putting money aside.
The taxes you pay depend on your circumstances and could change in the future. Monzo current account required. UK residents 18+ only. Ts&Cs apply.
How to check if you’ve used your allowance
Not sure how much of your £20,000 allowance you’ve already used? Here’s how to find out:
Check your bank statements to see how much you've subscribed to ISAs this tax year
Log into your ISA provider's portal or app to view your contributions
If you use the Monzo app, you can track your savings and see how much you've put away
Add up contributions across all your ISAs if you've got accounts with different providers
Remember, you can split your £20,000 across different types of ISAs (cash, stocks and shares, innovative finance and lifetime), but the total can't go over £20,000 in one tax year.
If you’ve got a flexible ISA, it works a bit differently. You can take money out and put it back into the same ISA during the same tax year, and it won’t count towards your allowance again. With a non-flexible ISA, any money you withdraw still uses up part of your allowance, even if you pay it back in later. So, if you move money in and out of an ISA, make sure you’re checking what counts towards your limit.
Quick steps to deposit savings before the deadline
If you’ve still got room in your allowance, here's how to top it up before the next tax year starts on 6 April 2026:
Work out how much you can afford to save between now and the deadline
Choose the right ISA type for your needs (more on that below)
Set up your account if you haven't already – you can open an ISA right up until midnight on 5 April
Transfer money from your UK current account to your ISA, or move money via your preferred method
Double check that the deposit has been processed before the deadline (investments, for example, can take several working days to process)
Top tip: don’t leave it until the last minute! Some providers have earlier cut-off times, so check with yours to make sure your contribution counts for this tax year.
Different ISAs you can open before 5 April
You've got a few options when it comes to ISAs. Here's a quick rundown:
Cash ISAs: these come in instant access and fixed rate versions. Instant access means you can take your money out whenever you need it. Fixed rate ISAs lock your money away for a set period but usually offer higher interest rates.
Stocks & Shares ISAs: your money goes into investments like stocks, bonds or funds. There's more risk than cash ISAs – the value of your investments may go up or down and you could get back less than you invest – but there’s potential for higher returns over the long term.
Lifetime ISAs: designed for first-time buyers or retirement savings. The government adds a 25% bonus to what you save (up to a maximum saving of £4,000 a year). They’re worth looking into if you're saving for a house or your pension. Read more about Lifetime ISAs.
Innovative Finance ISAs: these let you invest in things like peer-to-peer lending. They’re higher risk, but could offer better returns.
You can have more than one of each type per year, as long as your total contributions don't go over £20,000 (although it’s worth noting you can only put a maximum of £4,000 in your Lifetime ISA, which counts towards your total allowance). Want more information? Check out our helpful guide on the best place to put your savings.
What happens if I miss the deadline?
Missing the ISA deadline means you lose that year's £20,000 allowance permanently. On 6 April 2026, you'll get a fresh £20,000 allowance to use. But that's tax-free growth you've missed out on.
To avoid this happening, decide how much you’re able to save, and start setting it aside in your ISA as soon as you can. Because the earlier you save it, the more tax-free interest you can make on it.
Explore our ISAs to see what works for you.
Monzo current account required. UK residents 18+. Ts&Cs apply.
Information is accurate as of publication date, but check the gov.uk website for more research. Tax treatment depends on individual circumstances and may change. Interest rates are variable and can change. Always check current rates and terms in the Monzo app or website. This is not financial advice.
Questions? Answers.
Can I contribute after 5 April?
Yes, but it'll count towards next year's allowance (starting 6 April 2026), not this year's.
What if I already have an ISA?
Check how much you've subscribed to your ISA allowance so far this tax year. If you're under £20,000, you can top it up before the deadline.
Can I open multiple ISAs?
Yes, you can open different types of ISAs in the same tax year. You can even have more than one cash ISA or stocks and shares ISA, as long as your total contributions don't go over £20,000.
What's the minimum to open an ISA?
Some let you start with as little as £1, while others might have higher minimums. At Monzo, you can start saving with as little as 1p. It varies by provider.
Do my contributions count for one ISA or across all of them?
The £20,000 limit applies across all your ISAs combined – cash, stocks and shares, lifetime, and innovative finance. It's not £20,000 per ISA type.