ISA season checklist: what to do before April 5

ISA season marks the end of one tax year and the beginning of a new one (on April 6 each year). 

Each new tax year, your ISA allowance resets and you lose any allowance you’ve left unused.

So it's a key time to review your savings and make the most of your tax-free ISA allowance.

Before choosing what to do, it’s worth checking you’re up to date with the latest ISA rules.

This checklist can help you review your options calmly and confidently before the deadline. Let's go through the steps:

Check how much of your ISA allowance you've used

Knowing where you stand makes it easier to decide your next step. Remember your ISA allowance applies across all ISAs and all providers.

Before the end of the tax year you should work out if you have any unused allowance. So before doing anything else:

Choose whether to top up or open a new ISA

If you have unused allowance, it’s time to decide what to do next. If you already have an ISA, topping it up may be the simplest option.

You might consider opening a new ISA if:

Decide if your ISA still suits your goals

Your savings goals can change over time. Before ISA season ends, it’s worth asking:

Consider transferring your ISA

If you already have ISAs from previous years, you may be able to transfer them. Check the transfer timings with the provider you want to transfer to. ISA transfers can take a little time so planning ahead can really help.

ISA transfers:

Double-check the basics

You don't have to feel rushed in the lead up to a new tax year. Taking a little time to review your options can help you make the most of your tax-free savings and make decisions with confidence.