Halifax to keep branches open late over tax year end while Leeds Building Society extends fixed rate ISAs to £15,000 from 1 July

3rd April 2014

With the end of the tax year looming, Halifax has announced that the majority of its branches are to open late. The bank says it expects to open a new ISA in its branches every five seconds when they open on April 7th, the first working day of the new tax year.

The branches will open until 7pm on Thursday 3rd, Friday 4th April and Monday 7th April, and until 4pm on Saturday 5th April, with customers able to open an ISA online until 11:59pm on the 5th April.

Richard Fearon, Head of Halifax Savings said:“With everyone leading such busy lives, we’re extending our opening hours to give customers a little extra time just when they need it. For savers who are looking to use this year’s tax-free allowance, or to get a head start on their finances in the new tax year, we have a range of market-leading ISAs available. It’s exactly the right time to organise your savings, as after the 5th April savers will lose any part of their allowance they haven’t used.”

Halifax says it was the first bank to change its rules so customers can take advantage of the increased £15,000 limit, announced in the budget in March. Savers opening a fixed rate ISA from the 6th April can benefit from tax free savings from the beginning of the tax year and still be in a position to top up to the £15,000 limit when it becomes available in July 2014.

Leeds Building Society says that from 1st July, all cash ISAs will accept deposits up to £15,000 for the 2014/15 financial year. Savers with fixed rate Cash ISAs launched before 1st July will be able to top up their 2014/15 ISA allowance to £15,000 during July, as per the terms and conditions of their product.

Savers with instant access Cash ISAs will be able to top up any time between 1st July and the end of the 2014/15 tax year in April next year.

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