00:00So, the reason it's getting urgent right now is your annual allowance doesn't carry over.
00:06And if you don't use it, you lose it.
00:08Now, you get a new £20,000 ISA allowance on the 6th of April, as that's a new tax year.
00:14But if you've got money to put in now, even if you don't feel you're going to use it next
00:18year
00:19and you haven't got enough to fill the ISA allowance, you may as well get it in now,
00:21just in case something happens next year and you're more flush than you thought you would be.
00:25But the really important thing to understand about ISAs is once you put your savings or your investment in an
00:31ISA,
00:31it stays tax-free year after year.
00:35So, five years ago, you might have put £20,000 in, and four years ago, another £20,000,
00:39and three years ago, £20,000, and two years ago, £20,000, one year ago, this year.
00:43And next, on the 6th of April, another £20,000.
00:45In total, that's £140,000.
Comments