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Get ready for the new tax year

Make the most of your tax allowances before midnight on 5 April.

Learn about your tax allowances

Your tax year end checklist

With the tax year ending on 5 April, now is the perfect time for a financial health check.

Use your ISA and pension allowances

Use your Capital Gains Tax allowance if you have a General Account

Track down your lost pensions

Use your child’s Junior ISA allowance if you’re saving for their future

Consider whether it’s the right time to up your contributions

Check you’re not overpaying for your investments

Why it pays to save

You’re interested in saving for your future – that’s why you’re here. And luckily the UK government wants to help you save too. That’s why they’ve given you a host of tax benefits in the form of pensions and ISAs.

Each type of account helps you save for different goals that suit you and how you live your life. And each account has different tax benefits, and different limits on how much you’re allowed to pay in.

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What you can do with your accounts

Invest up to £20,000 each tax year

You can pay a total of £20,000 into ISAs each tax year. This is called your ISA allowance.

Currently, you can only pay into one of each type of ISA each tax year.

So for example, you cannot pay into two Stocks and Shares ISAs in the same tax year. But you can pay into a Stocks and Shares ISA and a Cash ISA in the same tax year, as long as you stay within £20,000 overall.

Things are changing from 6 April 2024 when you’ll be able to pay into multiple ISAs of the same type in the same tax year.

Your ISA allowance runs out at the end of the tax year on 5 April – so use it or lose it!

Learn more about Stocks and Shares ISAs

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Withdraw anytime, tax-free

You can withdraw from your Stocks and Shares ISA whenever you need to, with no exit fee. Your withdrawals will be free from Income Tax and Capital Gains Tax.

The Vanguard Stocks and Shares and ISA is a flexible ISA. That means if you withdraw money from your ISA and pay it back within the same tax year, it will not use any of your allowance.

Transfer in from other providers

If you have money invested in ISAs elsewhere, you can use an ISA transfer to move it to Vanguard – without it affecting your allowance.

Learn more about transfers

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Account types at a glance

 
Stocks and Shares ISA
Personal Pension
Junior ISA
General Account
General Account
Annual allowance
£20,000
Up to £60,000 (or your income, whichever is lower)
£9,000
Unlimited
Carry forward allowance
Previous 3 years
Who can pay into it
Only you
You or another Vanguard account holder. Business owners can make company contributions.
A parent who manages the account. Family and friends can gift money to the account.
Only you
Tax relief on contributions
Tax-free withdrawals
25% of withdrawals tax-free, the rest taxable as income
Tax-free, once the child has turned 18
When you can withdraw
Anytime
From age 55 (age 57 from 2028)
The child can withdraw from age 18
Anytime
What you can invest in
Over 85 Vanguard funds
Over 85 Vanguard funds
Over 85 Vanguard funds
Over 85 Vanguard funds

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