The 2024/25 tax year ends at midnight on 5 April 2025 and your annual ISA allowance will reset for a new tax year. 

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If you have any ISA allowance remaining (you can check this in your app) and want to make a deposit within the 2024/25 tax year, here’s the deadlines you need to know.

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Deposit before:

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• 23:00 on Tuesday 1 April 2025 — Stocks & Shares ISA

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• 23:00 on Friday 4 April 2025 — Cash ISA  

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Deposits that successfully make it into your Chip ISAs before these deadlines will count towards your 2024/2025 ISA allowance. 

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Any further deposits into your Cash ISA beyond these deadlines, may still successfully land in your balance, but we can’t guarantee it. Successful deposits made before 23:59 on Saturday 5 April will count towards your 2024/2025 ISA allowance.

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But please note that there can be unexpected delays, often caused by banks limiting deposits out and circumstances outside of our control. Your deposit is only valid when it reaches our banking partner—see more below.  

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Best ways to deposit

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Our most popular option for transferring into your ISA is through connected bank transfer. Simply follow the instructions in the app to connect to your provider. 

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You can also make a manual bank transfer into your Cash ISA, which is best used for making deposits over £5000. 

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Looking to transfer from another ISA?

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You can easily transfer an ISA from another provider into Chip’s Cash or Stocks & Shares ISA.

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Transfers don’t affect your annual £20,000 ISA allowance, as your allowance applies to new money only, so you don’t need to factor this in regard to the end of the tax year. You’re free to initiate a transfer anytime you like. 

Make sure you check our list of approved Cash ISA providers we accept transfers from. 

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Unfortunately, we are unable to accept transfers from providers not on this list at the moment, but we are adding more all the time.

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Having trouble depositing?

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If this is your first ISA deposit, we’ve found our members have the most success making a first deposit of less than £1000. 

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Keep in mind that your bank may limit daily transactions on transferring money from your current account to your ISA. 

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These limits can vary drastically between providers, so check with your bank if you’re looking to move larger amounts.

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You may have also set your personal limits on daily transfers, so adjust these accordingly if you haven’t already.

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There may also be additional security checks on larger transactions, so factor this in and try and plan ahead.

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“I’m lost, what’s an ISA?”

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ISAs are tax-efficient savings and investment accounts that offer tax exemptions on interest and returns earned within the account. 

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However, you are limited to depositing £20,000 within a given tax year (which runs April to April). This is your ‘annual ISA allowance’ and it is available on a use it or lose it basis. 

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You can learn more about ISAs in our quick guide here. 

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It’s simple with Chip

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Navigating ISAs is easy with Chip. You can have a Cash ISA, Stocks & Shares ISA or both; all accessible in one easy-to-use app. 

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Our flexible Chip Cash ISA allows you to make unlimited withdrawals and deposits without affecting your £20,000 allowance. Providing penalty-free access to your funds, whenever you need them, with all the tax advantages. 

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Our Stocks & Shares ISA allows you to effortlessly set up recurring deposits, which are then invested directly into the funds you've selected. This ensures your money is consistently working for you in your chosen investments to build wealth tax-free.

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Your Chip Cash ISA is a cash ISA provided by ClearBank Limited. ISA limits apply. Deposit up to £20k per tax year. Chip does not provide tax advice or financial advice. Tax treatment depends on individual circumstances and may be subject to change in the future. 

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Seccl Custody Limited is the ISA Manager for the Chip Stocks and Shares ISA. A monthly or annual ChipX membership required for certain funds selected within a Stocks and Shares ISA. Fund management charges apply. ISA limits apply.Invest £20k per tax year. 

‍When investing, your capital is at risk. Chip does not provide tax or financial advice. Tax treatment depends on individual circumstances and may be subject to change in the future.