Chancellor urged to extend ISA deadline because of coronavirus disruption

Chancellor Rishi Sunak is being urged to extend the deadline for ISA s this year due to the disruption from the coronavirus outbreak.

Pere-to-peer lender Sourced Capital has launched a petition calling on the government to extend this year deadline for people to get the £20,000 allowance from 5 April, the end of the current tax year, to 1 October.

That would give people affected by the virus lockdown a chance to take advantage.

Applications for 2020/21 would not be affected.

Stephen Moss, the founder of Sourced Capital, concedes the chancellor might have more pressing issues to deal with at present, but adds it will cost the government little and be equitable for people who had already invested earlier.

“You have recently delayed a number of formal deadlines, not least tax return submissions, tax payments and VAT. Which just goes to show that moving the goalposts can sometimes be a good thing,” Moss wrote.

Story by ProactiveInvestors