Martin Lewis warns that millions of Brits are not taking advantage of cash ISAs, resulting in wasted money. He explains the benefits of having a cash ISA and advises people to open one to save money tax-free. The official deadline is April 5, but Martin suggests doing it earlier due to bureaucracy and administration.
Martin has warned that millions of Brits are missing out on a significant amount of cash. Speaking on this week's episode of the Martin Lewis Podcast, he discussed the benefits of having a cash ISA and why people should be putting some of their savings into one. Martin warned on social media that "millions are wasting money by not being in cash ISAs when they should.
" A cash ISA is simply a tax-free savings account that can be opened with as little as £1 and allow savers to keep it tax-free each year as long as they don't take any money out. Martin further explained that while the official deadline to use up this year's allowance for a cash ISA is April 5, people should do it a bit earlier because "there's bureaucracy and administration" which could lengthen the process
Martin Lewis Cash ISA Savings Tax-Free Deadline Bureaucracy Administration
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