End of FY and ISAs

Hi,

I currently have an ISA set up with my plum premium and auto investments moving money into that savings ISA.

What happens towards the end of the financial year? Do my auto investments stop? As otherwise I could accidentally overpay into the ISA from the previous financial year. Or is a new ISA automatically set up?

Hopefully that makes sense, with my many questions :slight_smile:

Thanks

Hi @Bruton :wave:

Thank you for you question.

As long as you haven’t paused anything in the app, Plum will keep on allocating the autosavings to the fund/s you have chosen. You yearly ISA allowance will be reset to GBP 20.000.

In case you need any further assistance don’t hesitate to contact with our support team at help@withplum.com

Thank you! :blush:

-Georgios

New financial year, new £20000 ISA allowance. The FY20-21 allowance expires and the FY21-22 one begins. Your auto investments will continue to go into the same account (new allowance) and you don’t need to set anything new up.

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