ISA timing for tax year 16 March at 8:32AM in ISAs & Tax-free Savings 2 replies 102 views

Scotbot

How long does it take to set up an ISA? I have yet to put any money into one this tax year and am thinking about a stocks and shares ISA. Given market volatility I want to see if there are more falls. I know it takes minutes on the website but is the money deposited into the fund the same day? Is it OK to leave until the first week of April? Does anyone have any preference with respect to Cavendish or Vanguard? Having been an expat for a while I am new to this. Thanks.

kuratowski

Best not to cut it too close.  You can pay in the money now and leave it in cash until you are ready to invest, if you are determined to try and time the market.

masonic

Some providers are able to set up an account and accept a deposit on the last day of the tax year, but I wouldn't risk that. As kuratowski says, you can purchase investments at your leisure but the cash needs to be in the ISA by 5th April.