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Making tax time simpler

The end of tax year doesn't have to be confusing – see how to get ready.

Preparing for the end of tax year


Find out how to make the most of your tax allowances and see some key tax terminology.


Discover what a P60 is and when and why you might need one. 


Find out whether you might need to file a self-assessment tax return and how to go about it.

Staying safe and prepared


It’s a good time to look at some of the changes being made in the 2023/2024 tax year and see how they might affect you.


Read these tips to help you watch out for scams that try to trick you into handing over your personal information.


Find out how you could benefit from marriage allowance if you or your partner has an income of less than £12,570. 

Making the most of your savings


See how ISAs work and how you can take advantage of tax-free earnings.


Already got an ISA, but not sure how to transfer money into it? See how to top it up and also how to reactivate one.

How are ISAs changing in the 2024 / 2025 tax year?

Cash ISA age limit

From 6 April 2024, there are changes to how old you need to be to open a cash ISA.

To open a new cash ISA, you need to be either:

  • 18 years old or over, or
  • Covered by the transitional arrangements for those aged 16 or 17 (as of 5 April 2024), which is in place until 5 April 2026

ISA providers aren't obliged to offer the transitional arrangements. HSBC won't allow customers under 18 to open a new cash ISA from 6 April 2024, but will consider changing this in the future.

Subscribing to more than one of the same type of ISA

If you're aged 18 or over, you'll now be able to subscribe to more than one of the same type of ISA in the same tax year – subject to staying within the overall annual limit.

For example, you could subscribe to a cash or stocks & shares ISA with one ISA provider and also subscribe to one with a different provider.

This change doesn’t apply to Lifetime ISAs, where it's still only possible to subscribe to one Lifetime ISA in a tax year. HSBC doesn't offer Lifetime ISAs.

From April 6 2024, ISA providers are not obliged to allow subscriptions to more than one ISA of the same type in the same tax year with themselves, and HSBC will not be offering this.

Other optional changes that not all providers are implementing

If you've gone a whole tax year without making a subscription to an existing ISA, you can now restart subscriptions without needing to complete a new application.

Since 6 April, some providers allow you to make a partial transfer of subscriptions made in the current tax year, but HSBC is not currently allowing this.

We'll update our website if we make any changes to our ISAs in the future.

Find out more about ISAs

ISAs are a tax-efficient way to save as you're not taxed on any of the interest earned.

In the current tax year, you can save up to a maximum of £20,000. This can be in a lump sum or spread out over the tax year.