Some savers max out £20,000 Isa allowances on first day of new tax year

Some investment firms have already seen customers using their 2023-24 Isa allowances to the full.

Savers were also keen to use up their 2022-23 Isa allowances before the end of the old tax year on April 5 (Gareth Fuller/PA) (PA Archive)

Some savers have already maxed out their new 2023-24 Isa allowances within hours – or even minutes – of the new tax year starting.

Fidelity International Personal Investing said the first customer to maximise their new Isa allowance of £20,000 did so at six minutes past midnight on Thursday April 6.

Ed Monk, associate director, personal investing, Fidelity International, said: “While investing a £20,000 lump sum upfront may not be possible for everyone, establishing a regular savings plan to drip-feed your contributions throughout the year is a great way to build up your pot without a lot of sacrifice.”