Money expert Martin Lewis has revealed how Brits can maximise the amount that they save by opening a number of ISAs. ISAs (Individual Savings Accounts) allow people who are aged 18 or above to save £20,000 per year and gain tax-free interest on that amount. Many people find ISAs as a great way to store their savings by gaining this interest. However, there are many things that people may not know about ISAs and how they could be maximising the amount that they save.

Martin Lewis has answered some of the most important questions when it comes to ISAs and revealed how people can be getting the most out of their savings. The money expert answered a number of commonly asked questions on his website and revealed that people can actually have multiple ISAs open at one time, something that many British savers aren't aware of.

He revealed: "You can open and pay into multiple cash ISAs per tax year – for example, a fixed cash ISA and an easy-access cash ISA. And following changes to the ISA rules on 6 April 2024, these can now be the same type of cash ISA too – for example, easy-access cash ISAs with two different providers."

However, there are some rules that people need to be aware of. He added: "Just remember that the total paid in per tax year across all ISA types can't exceed your £20,000 ISA allowance."

Tomorrow sees the end of the 2024 tax year in the UK, meaning that people who have not used their ISA allowance by April 5 will lose it.

Lewis explained: "Each tax year (6 April until the next 5 April), everyone aged 18 or over gets a new ISA allowance. But if you don't use it, you lose it.

"Once that year's closed, you can't put another penny in that specific ISA allowance. So if you put aside nothing in the 2023/24 tax year, when the maximum was £20,000, that's it – it's gone. Or if you put £2,000 in during 2023/24, you can't now top it up as that tax year is closed.

"If you do deposit the cash in time, you can keep it in there, tax-free, for as long as you like. Then, as soon as the new tax year starts on 6 April, you can deposit a whole new year's allowance."

At least one in five Brits have a forgotten bank account, some with as much as £100 in, while nearly half have unspent gift cards and loyalty points, averaging £17 each.

NatWest, which spoke to 2,000 adults, also found an average of £26.25 in foreign currency was lying in drawers discarded after trips abroad. The average amount sitting in a bank account that had not been used for 12 months was £32.15, although 18% of those surveyed believed they may have as much as £100 lying around.

Mo Watt, savings expert at NatWest, urged savers to spend a few minutes each day checking old gift cards, and looking for loose change that may have fallen down the back of the sofa.

She also advised savers to spend time changing their foreign currency and putting it into savings instead.

Watt said: “No matter how big or small, saving is always worthwhile, and it’s often surprising just how quickly the little wins can add up. It’s amazing to see just how much Brits might be sitting on unknowingly - whilst it might not seem like much, an extra £65 could go towards a meal out with friends, spending for your next holiday, or even just a little treat, so it’s worth paying attention to.”

NatWest’s research is part of its ‘Tomorrow Begins Today’ campaign which is aimed at helping Brits take small, manageable steps to gain better control of their money.

NatWest said it was committed to young people and families across the UK building positive financial habits.Watt said: ”We want to help them make the most of the tools and resources available today, and it starts with these easy wins.”

Gretel, a free service which helps Brits find lost savings and investments, said there was at least another £2.8 billion in lost investments and wealth funds, with the average account valued at £2,800.

Stevens added: "With £2.8 billion in dormant investment funds across the UK, this issue affects thousands of investors, particularly as investments are often seen as long-term and they can easily become overlooked and harder to trace over time."

TSB has confirmed it is closing 11 of its 184 branches will close in 2025 and 2026, adding to the wave of high street bank closures across the UK.

The bank said the Peckham branch will also be relocating to a new site on the same street. Aaron Peake, personal finance expert at CredAbility said with more people banking online, it is no surprise high street branches are closing.

Peake said: "Banks argue that with fewer customers coming through the doors, it’s no longer cost-effective to keep all locations open, but that doesn’t make it any easier for those who still rely on them. Older customers, people in rural areas, and those less confident with digital banking could find themselves struggling to access basic services."

If your local branch is shutting, it’s worth exploring all available options to keep banking the way that suits you. Alternative ways to bank include.

• Post Office banking: Peake said: "Many people don’t realise that the Post Office acts as a banking partner for most high street banks, including TSB. If your local branch is closing, this could be the easiest way to keep managing your money in person."
• Banking hubs: “These shared spaces allow customers from different banks to do their everyday banking. They’re run by the Post Office and let you withdraw and deposit cash, manage accounts, and get face-to-face support. As of March 2025, there are 139 hubs across the UK with more expected to open.”

Two alternative high-street providers paying switch incentives:

• First Direct: Offers a free £175 for switching, access to a 7% regular saver, fee-free spending overseas and a £250 0% overdraft. To get the free cash, you can't have ever had any account with First Direct, or an account with HSBC since January 2018.
• NatWest: Provides a free £150, plus £36 a year cashback and 6.17% interest linked regular saver. To get the free cash, you can't have ever received a switch bonus from NatWest, RBS or Ulster Bank before. But it's worth being aware the NatWest Group will shut at least 56 of its bank branches in 2025 and beyond.

Money expert Martin Lewis has issued a message to everyone with a Cash ISA before this weekend as he told savers: use them or lose them.

Cash ISAs have been subject to much scrutiny in the past few months, with rumours that Chancellor Rachel Reeves was set to cut the limits on the amount that can be deposited into the tax-free savings accounts from the current £20,000 down to as little as £4,000. No such change came in the spring statement, though the government has refused to rule out changing them later on, such as in the Autumn Budget later this year.

For now, Cash ISA limits remain unchanged and it means you have a few days left to max out your current Cash ISA before another £20,000 limit is brought in at the end of this week.

Cash ISAs allow you to save up to £20,000 either in one or multiple ISAs within a given tax year, without paying any tax on the interest generated. They are especially useful for people with lots of savings, where the interest generated would break past your Personal Savings Allowance, or for those on high incomes who have lower or no Personal Savings Allowance. The Allowance starts off at £1,000 of interest for a typical 20% taxpayer, is cut to £500 interest for those earning £50,270 and is removed for those on £125,000 or more.

But interest generated inside a Cash ISA does not get taxed, and you can transfer in previous years’ of allowance to have hundreds of thousands of pounds inside them without paying any tax on the interest.

Money expert Martin Lewis, writing on his MSE website, says there is not long left to pay into your current Cash ISA and max out the £20,000 limit before the limits are reset on Sunday, April 6.

He said: “Prepare to pop the champagne corks and light the fireworks, 6 April is New Year (for tax at least) when all ISA and tax allowances reset. Yet that also means you've not long left to use this year's allowance, and it's best to do that, just in case you'll be able to fill next year's too.

“When you put money in an ISA, it stays tax-free there year after year. So, if you're lucky enough to have enough, you can fill up this year's now, add another £20,000 on 6 April, and a year later the same again etc - protecting an ever-increasing pile from tax. No wonder some who've maxed it out every year now have £100,000s in 'em.”

Right now, the best easy access Cash ISA is from Trading212, which offers 4.5% boosted by 0.75% up to 5.25% right now.

Tembo also offers a 4.8% rate, while the Post Office offers 4.4%.

For a one year fix (which means the rate cannot be lowered for 12 months, but you cannot get the money either), you can go to Cynergy for 4.49% or Castle Trust for the same rate.

Workers earning £60,000 who are claiming Child Benefit are set to lose money from their payslips following a HMRC change. His Majesty’s Revenue and Customs (HMRC) has confirmed it is simplifying the way that families will pay their High Income Child Benefit Charge (HICBC).

If you claim Child Benefit, you must pay the HICBC you - or your partner - earn more than the individual income threshold, which is currently over £60,000 for the 2024/25 tax year. This amount will remain the same in the 2025/26 tax year which begins on April 6. The charge is calculated as 1% of the total Child Benefit received for every £100 of income above £60,000. If your income reaches £80,000 then Child Benefit will be fully withdrawn.

Currently, the HICBC is collected by HMRC through Self Assessment, meaning you have to fill out a tax return before the end of each tax year that you claim Child Benefit and submit this to HMRC.

But the Government is changing this process by giving parents the option to pay the charge through PAYE instead.

It means that employed parents who opt to do this will have the charge automatically deducted from their payslips, thereby removing the need to register for Self Assessment. This change is due to begin from summer 2025 through the launch of a new digital service.

In a post on X (formerly Twitter), The Treasury wrote: “We are making it simpler for families to pay their High Income Child Benefit Charge (HICBC).

“From Summer 2025, employed parents will have the option to pay their HICBC through PAYE, removing the need to register for Self Assessment.”

This impending change was then confirmed in a government document published following Chancellor Rachel Reeves’ Spring Statement last week, which states: “High Income Child Benefit Charge (HICBC) – From summer 2025, employed individuals liable to the HICBC will be able to report their family’s Child Benefit payments through a new digital service and opt to pay HICBC directly through PAYE, without the need to register for Self Assessment.”

If you or your partner earn £60,000 or less per year then you can claim the full amount of Child Benefit if the child lives with you, or if you're paying the same weekly amount as the benefit towards looking after them. Only one parent or carer can claim it so you can decide between yourselves who gets it.

You won’t have to pay the tax charge if your or your partner’s individual ‘adjusted net income’ for the whole of a tax year is below the threshold of £60,000.

Millions of motorists could be in line for compensation as the Supreme Court prepares to hear a landmark case this week into the car loan finance scandal.

The hearing follows a decision by the Court of Appeal last year, which found that undisclosed commission payments to car dealers were unlawful.

With lenders now facing potential compensation payouts of up to £44 billion, the case could rival the infamous Payment Protection Insurance (PPI) scandal.

The Financial Conduct Authority (FCA), which regulates the industry, has urged affected drivers to come forward with claims if they suspect they were misled because they were not told that commissions were being added to loan repayments.

The final ruling, expected this summer after a three-day hearing, will determine whether the court upholds the appeal from finance providers or confirms the original verdict. Regardless of the outcome, banks and lenders have already begun setting aside substantial provisions to cover potential claims.

Marcus Johnson, a 34-year-old from Cwmbran, Torfaen, bought a blue Suzuki Swift in 2017, unaware that the dealer allegedly received a commission of £1,650—a quarter of the total loan amount.

"I had no idea commission even existed as part of the industry," he told the BBC.

The Court of Appeal ruled that such undisclosed commissions were illegal unless consumers were fully informed and explicitly consented to them.

This decision cast doubt over a widespread practice in the car finance sector, where dealers received incentives from lenders without buyers' knowledge.

The sector, the second-largest consumer lending market in the UK after mortgages, heavily relies on finance agreements. Most new and many used cars are bought using finance, often with hidden fees attached.

This case has called into question the transparency of these deals and the legitimacy of commission structures employed by banks and dealerships alike.

The financial impact of this ruling could be staggering. Industry giants such as Santander UK, Close Brothers, Barclays, and Lloyds could be bracing for massive compensation payouts.

Lloyds, which operates Black Horse, the UK’s largest motor finance provider, has already allocated £1.2 billion in preparation. Close Brothers has set aside £165 million and taken drastic measures, including suspending dividends and selling off assets, to shore up its finances.

The sheer scale of the potential fallout prompted an unprecedented intervention from Chancellor Rachel Reeves.

The Treasury warned judges that compensating borrowers on such a vast scale could cause "considerable economic harm" and deter foreign investment in the UK.

Although the Supreme Court dismissed this intervention, concerns remain that the ruling could extend beyond car loans to other financial products sold on commission, such as insurance policies, potentially amplifying the financial ramifications.

The FCA has already banned discretionary commission arrangements (DCAs), which allowed dealers to earn more by inflating interest rates. However, millions of past agreements remain under scrutiny.

Consumer groups argue that the Supreme Court ruling could set a precedent similar to the PPI scandal, potentially unlocking tens of billions in compensation for affected drivers.

Alex Neill, co-founder of Consumer Voice, emphasised the significance of the case, saying: "If the Supreme Court upholds the Court of Appeal’s ruling, it could lead to one of the biggest compensation payouts in history.

"Even if only discretionary commission agreements are affected, the sums involved are still in the billions."

As the Supreme Court weighs its decision, the FCA has promised to clarify within six weeks of the ruling whether it will mandate a compensation scheme.

If implemented, lenders may be forced to proactively contact affected borrowers, a move that could further escalate costs for banks while diminishing the role of claims management firms.

With the shadow of PPI still looming over the banking industry, financial institutions and consumers alike are watching closely.

A side hustle is a popular way for many to earn extra income, but few realise that an ISA can be one of the most tax-efficient ways to do so. With up to £20,000 tax-free each year, investing in an Individual Savings Account (ISA) can offer significant returns without time-consuming efforts or additional taxes.

Chris Rudden, head of investment consultants UK at Moneyfarm, said: “It’s often easy to overlook, but getting the most out of an ISA, a solution designed to encourage tax-free savings, is one of the most efficient ways of generating an additional source of income.” He explained that by focusing on regular contributions and sticking to a long-term strategy, people can harness the power of compound interest and turn their ISA into a growing asset.

Unlike traditional side hustles, which often require time and effort to manage inventory or track income for tax purposes, an ISA allows investments to grow with minimal input while benefiting from tax-free advantages.

There are five types of ISAs available, including Cash ISAs, Stocks and Shares ISAs, and Junior ISAs. People can choose the best option based on their financial goals, risk tolerance, and needs. More details about each ISA type can be found here.

Data from HM Renue and Customs (HMRC) and the Office of National Statistics (ONS) in 2024 found that 42% of UK adults do not have an ISA, highlighting a missed opportunity for tax-free wealth growth. With an annual contribution limit of £20,000, ISAs offer significant potential for long-term financial growth through compound interest.

In 2024, nearly 5,000 UK residents became ISA millionaires, demonstrating the potential of these tax-free accounts.

Mr Rudden added: “The real strength lies in avoiding short-term withdrawals and letting your investments work for you.

“With patience, discipline, and a long-term horizon for investing, your ISA can become more than just a savings tool; it can be a powerful driver of wealth, offering the opportunity to generate significant returns for your future.”

Premium Bond holders may see their chances of winning a prize dip with one expert warning that NS&I will cut rates again. Next month NS&I is dropping the premium bond prize fund rate from four per cent to 3.8 per cent.

In its third quarter results the government-backed savings bank said it raised £8.9 billion of its £9 billion full-year target and was on track to raise £10.5 billion. NS&I it also said it wants to raise £12 billion next year but Sarah Coles, head of personal finance, Hargreaves Lansdown predicted that prize "woes" may continue even after the NS&I fundraising target increases.

She said NS&I had a massive third quarter, delivering £5.5 billion, which explains the raft of recent rate cuts. It meant the organisation had almost entirely filled its boots for the current tax year, when it had three months left to run.

"We’re yet to get the latest of these cuts - the Premium Bond prize cut set for April – when it falls from 4% to 3.8%.

"The question for many savers is whether this will be the last. On the one hand, the fundraising target will rise to £12 billion. On the other, we’re expecting savings rates to fall across the market, and the prize rate is likely to fall in step with it."

NS&I have been approached for comment.

Coles said the rush into NS&I savings accounts and premium bonds in the third quarter shows how much pent-up demand there is.

"As wages rise ahead of inflation, more people are finding money to put away for the future. The HL Savings & Resilience Barometer shows that on average we’re saving 5.5% of income, which is a fair chunk of cash looking for a home. It means NS&I needs to be careful that Premium Bond don’t fall behind the rest of the market in the slow march towards lower rates. Sadly for bond holders, it means this is unlikely to be the last of the cuts to the prize rate.”

Martin Lewis is urging customers to grab a British Gas energy fix deal that is 13% cheaper on average than Ofgem’s April price cap - but is only available until 5pm on Friday.

The exclusive deal is available to British Gas customers and anyone switching from another supplier. The MoneySavingExpert (MSE) founder is urging people to take advantage of the cheap offer before Ofgem raises its price cap next week. From April 1, the average bill for households in England, Wales and Scotland on a standard variable tariff will rise from £1,738 per year to £1,849. The 6.4% hike equates to a £111 annual increase, or around £9.25 per month over the three-month period of the price cap.

The price cap sets the maximum rate per unit and standing charge that customers can be charged by suppliers for their energy use if they are on the standard variable tariff (ie not a fix), which for an average household paying by Direct Debit for dual fuel equates to £1,849 per year from April 1.

But it’s possible to beat the April price cap by switching tariffs and fixing at a cheaper rate - and Martin Lewis says this MSE deal is 13% cheaper.

In a post on X (formerly Twitter), he wrote: "British Gas customer, or on any firm's energy Price Cap? UNTIL FRI theres a new British Gas fix, 13% cheaper than what the Price Cap rises to next week. It avail to new and existing BG customers (doesn't need smart meter). 

“Please share this with anyone who hasn't sorted their energy bill before next week's 6.4% rise. And sort it yourself if you haven't. The link takes you through it step by step."

MSE says it has landed the cheap deal via its Cheap Energy club comparison and only one other smaller firm - Outfox the Market - is currently offering a rate that is cheaper.

The exclusive British Gas Fixed Tariff v49 is for a 16 month fix - so the rate won’t change until July 2026 - and includes a special boosted MSE £35 dual-fuel cashback (£17.50 for gas or electric-only switches). It’s available directly from British Gas as well, although if you choose this option then you’ll lose the MSE extra cashback.

It’s for gas, electricity or dual-fuel customers and you don’t need to have a smart meter to get it. It can be paid by monthly Direct Debit, cash or cheque, but not by prepayment meters, and it carries a £50 per fuel early exit penalty - but you won’t be charged for this if you move to another British Gas fix.

Martin adds: "Of course, how it stacks up always depends on region and usage, which is why we do it via a full comparison. But in general, for those who want a big name - and, crucially, existing British Gas customers too - it looks strong.

"It's 7.1% cheaper than the current Price Cap, and 12.7% cheaper than April's. That April Cap lasts until June, so the saving's locked in until then, and as I explain below, it's also substantially cheaper than the current predictions for the Cap after that.

"The tariff's full name is the British Gas Fixed Tariff v49. The saving includes a special boosted MSE £35 dual-fuel cashback (£17.50 for gas or elec-only switches) just for this tariff for new or existing BG customers only via our Cheap Energy Club.

"It's worth noting for those on a Price Capped tariff that the saving shown is compared to today's lower Price Cap, yet from next week, you'll save far more than that."

Rebecca Henman had to take on extra work just to stay afloat during the cost-of-living crisis, and doesn’t believe Chancellor Rachel Reeves’s Spring Statement will bring any relief. “Nothing in it is going to help families like ours,” she says.

Rebecca, 42, lives in Cofton Hackett, Worcestershire, with her husband Dean, 47, a social work practitioner, and their two young sons, Freddie, 9, and George, 5.

Alongside her job as a cancer research nurse, she runs a direct selling business with Usborne Community Partnerships. “The additional income has become essential in keeping the family financially stable.”

Like many households, the Henmans are feeling the impact of rising taxes, particularly the freeze on income tax thresholds, which means more of their earnings are dragged into higher tax brackets.

“Tax is definitely a concern, and with the freeze in place until at least 2028, we’ve felt the squeeze over the last few years,” Rebecca says.

She started her direct selling business to help bridge the financial gap. “It’s getting increasingly difficult to achieve the quality of life we want, which is why I set up my own business alongside my nursing job.

"The extra income allows us to do all the little things that make a difference: family days out, activities for the kids, and treats that we’d otherwise have to sacrifice.”

Reeves has claimed that disposable incomes will rise this year, making the average family £500 better off, but Rebecca isn’t seeing it.

“After having children, I reduced my nursing hours to balance work and family life, and we took a big financial hit. By the middle of the month, we were already struggling to make ends meet.

"Even something as simple as a family day out became a challenge. We were at least £300 short every month, so I started my side hustle selling Usborne books.

"Through that, I can earn between £400 and £900 extra per month.”

Inflation and rising household costs have put further pressure on the family’s finances.

“Like most people, we’ve felt food and energy prices rise, but we’ve managed to stay on top of things because I can scale up my side hustle when needed,” Rebecca explains.

“That flexibility is like a security blanket. It gives us some control over our finances in a way my main job doesn’t.”

For now, Rebecca and Dean are doing what they can to weather the financial storm, but she remains sceptical about the government’s ability to ease the burden on working families.

“We’re just having to get on with it, but it shouldn’t be this hard.”