Individual Savings Accounts (ISAs) have become a popular and tax-efficient way for UK investors to grow their wealth. With tax-free growth and income potential, ISAs offer an attractive opportunity to achieve long-term financial goals. However, like any investment, ISAs come with their own set of risks and challenges. To make the most of these valuable savings and investment accounts, investors need to be aware of common mistakes and pitfalls that can hinder their progress.

This article will explore some of the most prevalent ISA mistakes and guide how to avoid them, empowering UK investors to make informed and strategic decisions for their financial future.

Neglecting to maximise ISA allowances

One of the most significant mistakes investors can make with ISAs is failing to maximise their annual allowances. Each tax year, the UK government limits how much money can be contributed to ISAs. This allowance applies to both Cash ISAs and …