Martin Lewis has issued a one month countdown warning over ISA savings account. The Money Saving Expert founder said there was a looming deadline affecting all ISAs, be it a cash ISA, a stocks and shares ISA or a Junior or Lifetime ISA.
Speaking on the latest episode of his ITV show, the Martin Lewis Money Show Live, he said ISA holders had only one month left to max out their tax-free entitlement before it's too late. He urged viewers: "This is a one month ISA warning. You need to use your allowance by the end of the tax year, April 5, or you lose it.
“A Cash ISA is just a savings account where the interest is never taxed. You can put up to £20,000 in each year and once it’s in it’s never taxed. So you could put £20,000 in now if you’re lucky enough to have it and on April 6 put in another £20,000 and then in a year’s time another £20,000 and you would have £60,000 plus interest protected from tax.
