Millions of people in the UK are counting the days until the two long weekends at the end of the month created by Easter and the royal wedding.
But many investors will have their eye on another date — the April 5 deadline for putting money into this year’s Individual Savings Accounts (Isas).
The cut-off point falls at midnight on Tuesday, so investors now have only four days left, including today, to take advantage of the tax breaks on offer.
If they don’t move quickly they will lose the chance to shelter up to £10,200 under the tax-privileged umbrella of an Isa. Here Times Money explains how you can invest your money before the deadline expires.
Cash Isas
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Although investors can put only half their annual allowance of £10,200 into a cash Isa, that is where the majority of Isa money goes. Postal applications are still possible, though savers will need to check details and recognise that sending something by post to meet a deadline is always a gamble. Most banks and building societies permit applications at branches, though not all branches are geared up for this so it is best to check beforehand.
Those wishing to open an account will need to know their national insurance number, though existing customers will normally be spared identity checks. Applicants who are not existing customers will need to provide proof of identity. This consists of either one piece of photo ID, such as a passport or photo-style driving licence, or two other pieces of ID, one that establishes identity, such as a paper driving licence, and one that establishes address, such as a utility bill.
In addition to such branch applications, existing customers may be able to apply by phone or online. Barclays says that it will be taking applications until 11pm on April 5 at barclays.co.uk or on 0845 7555555. As with other banks, applicants will need to have to hand their national insurance number and a debit card relating to a current account with sufficient cleared funds for the intended purchase. All applications must be fully processed by the deadline.
Lloyds Banking Group will have its Halifax, Lloyds and C&G branches open for applications as normal on Tuesday.
Halifax customers can also apply online at halifax.co.uk until midnight on April 5 or by phone on 0845 8502582 until 8pm, while Lloyds customers can apply at lloydstsb.com until midnight on April 5 or by phone at 0845 3000000 until midday. C&G customers can apply via their branches. There is also a postal option for which applications and cheques have to be received by April 5.
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Santander is now closed for online Isa applications, but customers can continue to open Isas until April 5 through branches and by phone on 0800 2346065. Phone applications close at 9pm on April 5.
Nationwide, the UK’s largest building society, will allow the opening of branch-based Isa accounts until the close of business on April 5. The deadline for opening an e-Isa online has passed for everyone except existing e-Isa customers, who will be able to top up their e-Isas until midnight on April 5, provided that they have a Nationwide internet bank account.
HSBC will be taking applications at its branches until close of business on April 5. It will be open until shortly before midnight for phone applications, on 0800 0324729, and internet applications at hsbc.co.uk. The same phone and internet closing times apply to First Direct, which is on 0800 242424 and at firstdirect.com.
RBS/NatWest is taking applications through its branches on April 5 and is extending opening hours at dozens of them. Check with your local branch. Phone and internet applications will be possible until 8pm on the final day. The NatWest phone number is 0800 255200 and the RBS number is 0808 1009510. The website addresses are: natwest.com and rbs.com.
Stocks and shares Isa
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The alternative to a cash Isa is a stocks and shares Isa, which gives investors exposure to the world’s stock markets. There are a variety of ways to hold a stocks and shares Isa. We list them here with details of what is still available before this year’s deadline.
Unit trusts
Most fund groups will be open for Isa applications up to close of business on Tuesday, but many of the small and medium-sized players will not be equipped to take last-minute applications. However, some of the largest groups are extending their opening hours. Invesco Perpetual is open for final-day phone applications until 10pm, on 0800 9177581. Hand delivery to its Henley HQ will be permitted up to 10pm. It does not take online applications.
M&G will be open for online applications at mandg.co.uk until 11.30pm. The dealing line on 0800 9179900 will stay open until 11pm. For those uncertain about whether postal applications will arrive in time, M&G is offering the option of hand delivery to its office in Chelmsford before midnight.
Fidelity will have 14 regional collection points, from Belfast to Southampton, open for hand delivery until 6pm on April 5. Its London and Manchester offices will also be open until 6pm, while its Kent and Surrey offices will be open until midnight.
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It will also be open until midnight for phone applications, on 0800 414161, and online applications, at www.fidelity.co.uk.
Investment trusts
A number of groups can now take applications until late on April 5. They include Alliance Trust, which is open until midnight for online applications, at alliancetrustsavings.co.uk, and 6pm for phone applications on 01382 573737. F&C is open until midnight for online applicants at www.fandc.co.uk while JPMorgan is also fielding applications until near midnight, at jpmorganasset management.co.uk.
Fund supermarket Isas
Another way of investing in Isas is to go straight to a funds platform or supermarket, where you are likely to have a wider range of funds to choose from. Most will enable you to cut the initial charge and a few offer a reduction on the annual charge.
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Hargreaves Lansdown is open until just before midnight for phone applications on 0117-900 9000 or online at h-l.co.uk. Danny Cox, of Hargreaves Lansdown, says: “Last year the final telephone Isa application was taken at 11.58pm.”
Interactive Investor, the fund supermarket and online stockbroker, will likewise be open until the stroke of midnight on 0845 8800267 and at iii.co.uk.
Fidelity’s FundsNetwork is taking online applications until midnight at fundsnetwork.co.uk. Phone lines are open until midnight, on 0800 414181.
Alliance Trust is a relative newcomer to fund supermarkets but offers an unusually good deal by rebating all commission received, initial and annual alike, to the customer. It will be open for online applicants until midnight, at alliancetrustsavings.co.uk.
Discount broker Isas
These are similar to fund supermarkets in offering a range of funds and reductions on initial charges on the funds.
Bestinvest is taking online applications until 10pm on April 5, at bestinvest.co.uk. Chelsea Financial Services will take phone applications until 10pm, on 020-7384 7300, and online applications until 11.30pm, at chelseafs.co.uk.