Field Notes · 2026-02-03
Using the ISA allowance before the tax year closes
Practical sequencing for cash and stocks & shares ISAs when March approaches and cash is sitting outside a wrapper.
The annual ISA allowance resets each April. Money paid into an ISA before then uses the current year's limit; after the reset, a fresh allowance opens.
If you hold both a cash ISA and a stocks & shares ISA, check how much you have already subscribed in the tax year. Paying into one type usually counts against the same overall allowance under current rules.
Avoid last-minute transfers that leave money in limbo over the year-end. Confirm settlement dates with your provider if you are moving an existing ISA.
Cash that will be needed within two years often belongs in an accessible cash ISA or easy-access account rather than equity funds chosen for a deadline.
We review ISA use as part of wider portfolio work—never as a stand-alone race against 5 April without considering emergency funds and pension contributions.