Halifax has alerted customers to the fast-approaching tax year deadline on April 5, 2026
Halifax has contacted customers to warn them of an approaching deadline. In an email, it stated that the tax year was drawing to a close at 11.59pm on April 5, 2026.
This is when ISA allowances are refreshed, meaning any unused allowance will be forfeited if not utilised by that date. At present, individuals can deposit £20,000 annually into an ISA, or a combination of ISAs.
This year’s cut-off point is particularly significant, as it represents one of the final opportunities to invest £20,000 exclusively into a cash ISA. Following reforms announced by Chancellor Rachel Reeves, from April 2027 the cash ISA cap will be altered, dropping to £12,000 annually for everyone aged under 65.
The total allowance will stay at £20,000, but the £8,000 gap will need to be allocated to another ISA type, such as a stocks and shares account. This means there are only two remaining opportunities to maximise £20,000 per year in a cash ISA – the forthcoming deadline and next year, April 5, 2027.
Halifax stated: “The end of the tax year is approaching, but there’s still time. You have until 11.59pm UK time on April 5to make the most of this tax year’s £20,000 ISA (Individual Savings Account) allowance before it resets. This limit applies across all your ISAs, whether they’re with us or with other providers.
“Take your next step by moving your savings into a tax‐free cash ISA, helping you keep more of your money for yourself. Adding an investment ISA alongside it can also help make your long‐term life goals feel a little easier to reach.
“Saving for something in the short term? Maybe a new sofa or a car? A cash ISA could be just what you need.”
Halifax has also informed customers about a promotion it’s currently offering. Those who transfer an existing ISA to Halifax by May 31, 2026, could receive up to £1,200 in cashback, the bank announced.
To benefit from the deal, Halifax explained that customers must open a cash ISA with them, or transfer into one that’s already active.
The transfer needs to be from any UK provider outside of Lloyds Banking Group – which includes Halifax, Lloyds, Bank of Scotland and Scottish Widows.
Customers will also require a Halifax current account, as the cashback will be deposited there.
The bank confirmed that cashback would be paid by September 30.
