More than one million people are expected to invest through a stocks and shares ISA before the deadline on 5 April, according to a fund manager.
A survey of over 2000 people carried out for Rensburg Sheppards by Opium Research showed that investors on average intend to shelter £4,951 in a stocks and shares ISA this tax year, with people in London planning to invest the most.
The survey results, weighted to reflect the wider population, suggest that 3.6million people have already invested in investment ISAs, with a further 1.2million expected to do so before the end of the tax year.
Four in 10 investors are expecting to increase their stocks and shares ISA investments from last year. Younger investors – aged between 18 and 34 – are the group most likely to do so, with 56 per cent expecting to boost their level of equity investments.
Share dealing ISA provider TD Waterhouse has extended its opening hours for last minute ISA applications for investors looking to make the most of their tax efficient allowance before the tax year ends.
As well as customers being able to open accounts online up to the tax year-end, the firm's Customer Service Centre will open until midnight on Tuesday 5 April.
Darren Hepworth, customer service and trading director at TD Waterhouse, said: “The interest in ISA account openings this year has been phenomenal and it is clear that investors are actively seeking to make the most of last year’s increase in ISA limits.”
He said extending the opening hours would ensure investors yet to make decisions about investments would still have an opportunity to open a new ISA or top-up existing ISAs before the end of the tax year.
Share dealing ISAs – self select ISA investing
For investors looking to take direct control of how their stocks and shares ISA is invested share dealing ISAs are available.
Many share dealing ISAs can be opened online allowing last minute ISA investors to invest their stocks and shares ISA deadline right up until the end of the tax year.
Share dealing ISAs allow direct access to shares of UK listed companies, and corporate and government bonds on the UK market. Providers also provide access to international stock markets, with services including online trading and share price alerts.
See the table below to compare share dealing ISA deals:
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