ISA - can I invest now or need to wait until next year?

Rayvon

Hi

This is a very basic question - but only if you know the answer which i dont lol

Could I invest in an ISA just now, or would I need to wait until next April for new financial year to start one?

Ian_W

or would I need to wait until next April for new financial year to start one?

No, not unless you've already used up your 07/08 allowance of £3K.
It would be advantageous to open one now and use as much of your allowance as you can, then open another in April 08 when the cash element of the ISA allowance goes up to £3,600.

nilrem_2

As Ian says you can invest any time up until the end of the tax year as long as you have not already invested the full amount, amazingly some people wait until a few days before the deadline runs out before buying hence losing out on almost 12 months of a useful tax 'goodie'