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To help you take full advantage of your ISA and pension allowances before the end of the 2022/23 tax year, here’s your guide to the key dates you should know ahead of the deadline at 23:59:59 on Wednesday 5th April 2023.  

Investing before the tax year-end deadline means you can make contributions with plenty of time to spare and avoid any last-minute worries. Some banks have complicated rules around cut-off times and contribution limits. Therefore, we recommend getting prepared, speaking to your bank if needed and contributing as soon as you can.  

If you have a Nutmeg ISA, Lifetime ISA (LISA) or Junior ISA (JISA) there are a variety of ways to contribute and invest your money in a way that works for you.  

A Nutmeg pension will have different deadlines that you need to be aware of, some as early as Wednesday 22nd March, which we’ll discuss later in the guide.  

Different types of ISAs and pensions have specific annual allowances. Understanding these allowances means you can plan when and how you invest, which can have a big impact on the tax efficiency of your portfolio.  

Read about the annual allowances in this blog, while you may also be wondering how many ISAs you can actually have.  

Tax year end deadlines 2022/23 for all ISAs

If you have a stocks and shares ISA, Junior ISA or Lifetime ISA with Nutmeg 

There are a variety of ways to contribute to your stocks and shares ISA, JISA and LISA to invest your money in a way that suits you and make sure contributions are attributed to the 2022/2023 tax year.  

Regular contributions  

If you have regular contributions, via a Direct Debitthat are usually collected from your bank account on the 4th or 5th of the month, your April Direct Debit contribution will fall into the new tax year. Therefore, you’ll need to change your Direct Debit date so that it is collected on or before Monday 3rd 

Be aware that it can take up to five business days for updates to be applied, so best to make any changes before Monday 27th.  

If you haven’t set up a Direct Debit before, be aware that this can take up to 10 business days, so you’ll need to plan ahead.  

If you make regular contributions with a standing order, you’ll need to be aware of the deadlines for manual bank transfers. For most standing orders the deadline is 12:00 (noon) on Wednesday 5th, but for BACS and CHAPS transfers, the deadlines are earlier.   

Other contributions  

You can contribute to your ISAs as many times as you like before tax year end with lump sum contributions, providing you don’t exceed the annual allowance. The deadline for contributions by easy bank transfer, debit card, Apple Pay or Google Pay is 23:59 on Wednesday 5th April. An easy bank transfer is the fastest method for contributing to your ISAs.   

Manual bank transfers are transfers made directly from your bank to your Nutmeg account, using your Nutmeg account number for reference. The deadline for most people using manual bank transfers is 15:55 on Wednesday 5th, however if you specifically use BACS or CHAPS there are earlier deadlines. Be aware that depending on your bank you may need to split your contribution over several days.  

  • The deadline is 12:00 (noon) on Friday 31st March.   
  • The deadline for CHAPS transfers is 12:00 (noon) on Tuesday 4th. Some banks will require a manual set up which may increase the time it takes to process these contributions.   


If you have a pension with Nutmeg 

 All contributions into a Nutmeg pension can only be made via a Direct Debit contribution at this time.  

 If you’re making your first Direct Debit contribution into your pension  

The deadline is 16:00 on Wednesday 22nd March. The first Direct Debit contribution takes 10 business days to process from when the mandate is put in place. Direct Debits initiated after this date are not guaranteed to reach us before the end of the tax year.  

We may also need to ask for documents to verify your identity or support your Direct Debit set-up, in which case, it could take longer to get your contribution set up. So, plan ahead to make sure your pension contributions arrive on time.  

If you’ve already set up monthly Direct Debit contributions into your pension 

The deadline is Wednesday 5th April with any Direct Debit contributions falling on or before this date part of your pension allowance for 2022/23. 

Remember you can use Direct Debits to make one-off contributions if you need to top up your pension before tax year end. Note that you can carry an unused pension allowance forward for up to three years.  

If you need any help  

Our client services team is available to answer any of your questions as we approach tax year end. Drop us an email You can also book a free call to talk to one of our experts for more in-depth guidance on making the most of your allowances. 

Risk warning   

 As with all investing, your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. A stocks and shares ISA may not be right for everyone and tax rules may change in the future. If you are unsure if an ISA is the right choice for you, please seek financial advice. 

A stocks and shares Lifetime ISA may not be right for everyone and tax rules may change in the future. You must be 18–39 years old to open one. If you need to withdraw the money before you’re 60, and it’s not for the purchase of a first home up to £450,000, or a terminal illness, you’ll pay a 25% government penalty. So you may get back less than you put in. Compared to a pension, the Lifetime ISA is treated differently for tax purposes. You may be better off contributing to a pension. If you choose to opt out of your workplace pension to pay into a Lifetime ISA, you may lose the benefits of the employer-matched contributions. If you are unsure if a Lifetime ISA is the right choice for you, please seek financial advice. 

To open a Nutmeg JISA, your child must be under the age of 16 and funds cannot be withdrawn until your child turns 18. Tax treatment depends on your individual circumstances and may be subject to change in the future. If you are unsure if a Junior ISA is the right choice for you and your child, please seek financial advice.   

A pension may not be right for everyone and tax rules may change in the future. If you are unsure if a pension is right for you, please seek financial advice.