Key payment timings for the end of the 2024/25 tax year
The end of the 24/25 tax year is fast approaching – here’s a summary of our key payment dates:
Final weekly collection
Our last weekly collection of the tax year will take place at midday on Wednesday 2nd April.
We’ll collect any funds in your upcoming collection in the Home tab at this point, then debit the payment from your linked bank account the following week – likely on Monday 7th April. Although the money will be debited in the new tax year, these contributions will still count towards your allowances for the 24/25 tax year.
Any funds added to your ‘upcoming collection’ total after midday on 2nd April will be collected as part of our first weekly collection for the 25/26 tax year, on 9th April.
Please note that in order to have funds collected in our final weekly collection, you’ll need to have a Direct Debit set up with a UK current account.
Easy bank transfers
You can make an easy bank transfer of £100 or more into an ISA, LISA, JISA, or Pension. If your remaining allowance for the tax year is less than £100 you will be able to contribute any amount using this method to max out your product.
Please note not all banks are supported for easy bank transfers, and we’ll need to receive the payment from your bank by 23.59pm on 5th April for it to count towards the 24/25 tax year. Your bank may have additional security steps to process certain payments, so please don’t leave your deposits too late!
Manual bank transfers
If you hold an ISA or LISA, you can send payments of £100 or more directly from your linked bank account. If your remaining allowance for the tax year is less than £100 you will be able to contribute any amount using this method to max out your product. For your deposit to count towards the 24/25 tax year, your payment must be received by 23:59pm on the 5th of April.
Please note manual bank transfers usually arrive in your account within a few minutes, but depending on your bank can take up to 24 hours. Your bank may have additional steps to process certain payments, so please don’t leave your deposits too late!
Moving money between Moneybox accounts
Our Move Money feature, which allows you to move funds between some Moneybox products in Settings > Move money between accounts, will be turned off at 5pm on Thursday 3rd of April until the new tax year begins.
Transferring an existing ISA
If you have an existing ISA and would like to transfer money to your Moneybox LISA in the 24/25 tax year, you can initiate this in Settings > Transfer an existing ISA until 5pm on 28th February.