Take a moment to check if your money is working hard enough with our saving and investing accounts.
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Saving and investing
Your end of tax year checklist - act before 5th April
You must be 18+ and a UK resident to apply for these accounts. The value of investments can fall as well as rise, and you may not get back the full amount you invest. Eligibility criteria, fees, and charges apply.
1. Review your current ISA allowances
Identify which accounts you have and review your allowances. If you've never had an ISA, or a Junior ISA for your child, you could be missing out on tax-efficient savings.
The current ISA allowance is £20,000 and the current Junior ISA allowance is £9,000 per child.
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2. Check your pension
The maximum you can put into a pension this tax year is £60,000.
If you want to make the most of that allowance, consider topping up your Workplace Pension or private pension. If you don't have a pension yet, we can help set you up with one.
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3. Use as much of your tax allowances as you can
Most tax allowances don't carry over to the new tax year, but some do. So it's important to check you're making the most with your money.
ISA allowances don't carry over to the new tax year, but they do renew. So even if you can't put money into an ISA this tax year, there's the possibility to do so the next tax year (subject to UK legislation).
Pension allowances do carry over to the new tax year in some circumstances, like if you haven't used all your allowance in the last tax year. It's important to do your research before you can carry any pension allowance over to this tax year.
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4. Stay inside your Personal Savings Allowance if you can
A major benefit of ISAs is that interest from a cash ISA or returns from a Stocks & Shares ISA do not count towards your Personal Savings Allowance (PSA).
The PSA is the yearly amount you can earn without paying tax and varies by income tax band: £1,000 for Basic Rate Tax Payers, £500 for Higher Rate Tax Payers, and none for Additional Rate Tax Payers.
Regular savings account interest may be taxable and could require a self-assessment tax return. Opting for a Cash ISA or Stocks & Shares ISA could help you maximise your savings without the complexities of tax.
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Things to know about our products
- Tax reliefs referred to are those applied under current UK legislation, which may change.
- The availability and value of any tax relief will depend on your individual circumstances.
- NatWest Pension: You must be over the age of 18 and under the age of 75. You cannot make contributions if you are a US citizen or US Green Card holder. You cannot access your pension benefits before the age of 55. When transferring any existing pensions, exit fees may apply.
