Savers are being issued an urgent “use it” warning ahead of a cash ISA deadline. The end of the tax year on April 5 marks the final date when you can use your ISA allowance for the current year.

Josh Raymond, UK managing director at savings and investing platform XTB, said: “The simple reality is that if you don’t use your ISA allowance by the end of the tax year, you lose it.

“You get a fresh £20,000 each year, but any unused allowance doesn’t roll over – which is why I always encourage people to use as much of it as they realistically can.” He said: “That doesn’t mean you need to put in the full £20,000. Even £20 inside an ISA is better than £20 held elsewhere – as anything earned within the ISA is tax free.

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“Over time, those small decisions add up. For most people, it’s about building the habit of using the allowance each year, not trying to maximise it in one go.”

Mr Raymond also issued a warning that one of the “biggest issues in UK savings today” is that people leave their cash in traditional savings accounts when they could be getting tax-free growth in ISAs.

He warned: “Many people leave cash in traditional savings accounts without realising that once they exceed their personal savings allowance, the interest becomes taxable.

“ISAs are one of the most generous and straightforward tax‑efficient products available, yet awareness remains surprisingly low.”

Mr Raymond said: “There are just over 10 million cash ISAs and around 4 million stocks and shares ISAs in the UK, compared with an adult population of more than 50 million. That gap suggests a lot of people are missing out.”

The expert said: “There’s also a more basic issue. Inflation is still around 3 percent, so if your savings aren’t earning at least that, their real value is falling.

“ISAs help address both problems by offering a tax‑free environment where people can protect and grow their money more effectively.”

He said: “Geopolitical events can create short‑term volatility, and it’s natural for markets to react to uncertainty. But while this can be unsettling, especially when values move quickly – the most important thing for long‑term investors is perspective.

“Markets have weathered wars, political crises and economic shocks many times before, and over time they have continued to grow. Trying to predict peaks and bottoms is incredibly difficult, which is why consistency matters more than timing.”

Mr Raymond said: “For those feeling nervous, flexibility and diversification are key. Holding some assets in cash, spreading investments across sectors, or focusing on more defensive areas can all help manage risk.

“But in general, staying invested and sticking to a long‑term plan has historically been more effective than reacting to short‑term news.”