Isa savers 'must be aware of the Easter weekend'

Savers wishing to capitalise on their 2009-10 Isa allowance cannot afford to leave it until the last minute this year, it has been claimed.

Clydesdale and Yorkshire Banks have reminded consumers that the deadline - April 5th - falls on Easter Monday this time around.

The banks estimate that, in an ordinary year, ten per cent of Isa applications are made in the last two days before the tax-year end.

However, as a result of the Bank Holiday, they are urging savers to arrange their Isa investments well in advance of the deadline.

Steve Reid, retail director at Clydesdale Bank, said: "With Easter falling so early this year, if you haven't already done so the opportunity to invest in an Isa this year is that little bit less.

"The Isa allowance isn't flexible so beat the deadline and pay less tax."

Consumers over the age of 50 can place £10,200 in their Isa accounts, while all other savers have access to a £7,200 tax-free allowance.

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2010-03-05 14:29:45 © Moneyextra.com