Nationwide says you must check one thing before tax year ends

Nationwide has issued a crucial reminder about the ISA contribution deadline as major changes to the £20,000 allowance loom from April 2027

about Nationwide Building Society has issued an update concerning an approaching final deadline for savers. The latest statement follows an enquiry from a customer on social media.

The customer raised an important question to the organisation about ISAs, asking: “What’s your deadline for the end of the tax year?” During each tax year, you can put up to £20,000 into tax-free ISAs, with the current allowance able to be split between cash ISAs or stocks and shares ISAs, according to your preference.

Responding to the enquiry, Nationwide pointed the customer towards a page on their website offering additional information about the ISAs they provide.

Nationwide was asked to clarify the cut-off date for customers to make deposits into their accounts using this year’s ISA allowance. The organisation stated: “For Nationwide (and all ISA providers), ISA contributions must be made by 5 April (by 11.59pm on 5 April), the final day of the tax year, for them to count toward that year’s allowance.

“This aligns with the HMRC ISA rules, which Nationwide adheres to. All ISAs and rates are accessible in branch, by phone or online, as we understand customers appreciate having options in how they bank, which is why we’ve extended our Branch Promise.”

The Branch Promise represents Nationwide’s commitment to maintain all its 605 high street branches open until at least 2030. The organisation also provided some additional guidance about managing your savings, reports Wales Online.

Nationwide told the customer: “Customers can also check any online ISA or savings accounts on the app with rate and maturity dates all detailed there. Customers can also make use of our in‐app budgeting tool to help them manage their money.”

At present, the building society offers rates of up to 4.5 per cent on its ISA products, including both a five-year fixed term and a three-year fixed term, each providing 4.5 per cent. A major change to ISAs is on the horizon.

From April 2027, the current £20,000 annual allowance will effectively be reduced, meaning only £12,000 will be allowed for deposits into any form of ISA. The remaining £8,000 must be allocated to investment-based ISAs.