The clock is ticking for the end of the tax year 2021

By Jade Shelton

This tax year effectively ends on the 1st April 2021. No, this is not an April fool’s joke but the result of a “perfect storm” of dates, days and bank holidays.

Maundy Thursday falls on 1st April 2021, which means that Good Friday is 2nd April 2021 – a bank holiday. The 3rd & 4th April 2021 form the Easter weekend. Easter Monday is another bank holiday and falls on 5th April 2021 – which is also the last day of the current tax year.

As with all tax year ends, it is your last chance to use up your ISA & personal pension allowances by making contributions (you can read our top 5 tips for the end of the tax year HERE. But your contributions will need to be received and cleared by your product provider or platform before the end of the tax year. And this year that’s 1st April 2021.

If you’re thinking of making contributions into an ISA or personal pension this tax year, my suggestions is don’t leave it until the last minute. Otherwise you may miss this tax year and inadvertently end up making an early contribution to next year’s allowance instead.