Deposited 20,000 GBP in a Stocks & Shares ISA on 2nd March. Do I need to use all the money to buy investments before 5th April?
16 March 2023
Question by Douglas
Deposited 20,000 GBP in a Stocks & Shares ISA account 2nd March ‘23. Do I need to use all the money to buy investments before 5th April ‘23? Or can I wait until 6th April or later?
Answered by Chris Broome
A very good question to ask.
So long as you have funded/subscribed to your ISA in the tax year, then it doesn't matter whether the funds have been left in cash or have been invested.
The key is the money has landed into the ISA within the tax year.
This means you can invest the money into specific investment funds when you are ready.
I hope this answer helps.
If you have any more questions please let me know.