✅ Last minute end of tax year suggestions
Some end of tax year suggestions
✅ Checksies
Money things to read, money things to do.
4 April 2025
Hello, this is Checksies. It's nearly the end of the tax year, which means that your ISA and SIPP allowances are about to run out. The tax year ends on 5 April and starts on 6 April - so today, Friday, is the last working day of the 2024-2025 tax year.
Anna and Rod are still not financial advisors and this still isn't financial advice, but we've done some research for you to act on if you have time to today or tomorrow.
If you’re already convinced you want to add to your ISA or your SIPP before the end of the tax year, you can jump to using this tool.
What are ISAs and SIPPs?
An ISA is an individual savings account. You'll never have to pay tax on the interest you receive or the gains that you make when it's inside an ISA. If you have a non-ISA savings or investment account, you’ll pay tax on the interest you receive (above a certain threshold) or the gains you make. If that same money is invested in the same things - cash or stocks - but it’s stored in an ISA, you’ll never pay any tax.
A SIPP is a self-invested personal pension. It's a way of saving for your retirement and you choose your own investment options as part of doing it. You can go back and read previous Checksies about that if you want to know a bit more.
What are the allowances?
Your annual ISA allowance is £20,000 and your annual SIPP allowance is £60,000. If you put £20k into an ISA today, you can put another £20k in next week.
If you do have savings outside of an ISA, this is quite a good time to put them into one of these tax-free accounts. Lots of investment platforms will quite often want to entice people in at this time of year - they want to win more customers. So they will quite often pay an incentive for opening an account or putting money in it - that might come in the form of cash, or free shares.
What bonuses are available?
It’s normally quite hard to compare what those incentives are. So to try and help out we built a little tool that allows you to see what you might get on which platform, depending on how much you put in.
You can have a look at it here. We hope it's helpful. Let us know what you think.
Find bonus ISA & SIPP offers for 2024-2025
The market is wobbling, but stay the course
Before we go: We want to take a moment to mention Trump's global tariffs and the stock market uncertainty that's ensued. The thing is, we've got no choice but to keep on planning for our retirements in the future, no matter what's going on in the global markets. So even if you're feeling a little bit wobbly, it's still a good idea to be thinking about putting money away for the future.
The usual caveats including an AI disclaimer
This is our first time going out and scouting data for Checksies readers. We have used Claude for the build because neither Rod nor I have ever truly been bothered to deeply learn how to code properly. All errors are ours. Please do double check that the account does what you want before you pop your money in there.
Happy new tax year.
Love,
Anna and Rod