ISA allowance 2021/2022: Is there a minimum contribution you must make as tax year ends?

ISA ALLOWANCES are due to renew as the new tax year arrives, but is there a minimum contribution you must make to open an ISA or as the tax year comes to an end?

ISA allowances run from April 6 to April 5 the following year. They are extremely popular savings product and can allow you to save tax-free. You have until 11.59pm on April 5 to take advantage of this year's £20,000 allowance.

But for those hoping to open an ISA before the tax year ends are not out of luck just yet if you have the right amount. Individual Savings Accounts are a popular savings product where savers can deposit up to £20,000. All UK residents aged 16 and above can put money into a cash ISA.

You must be aged 18 or over to open a stocks and shares ISA. Parents and guardians of children can open Junior ISAs on behalf of their child. Once the child turns 18, they are entitled to access these funds. -»