ISA and SIPP deadlines
Here's what you need to know
As the last working day of the tax year approaches on Friday 4th April 2025, it's crucial to meet all deadlines to make sure your clients' payments qualify for the tax year.
We've provided you with all the information you need to know below, or you can download our handy 2024/25 ISA and SIPP Deadlines Guide.
| Date / Time | Details |
|---|---|
| Wednesday 19th March 2025 - 5pm | Deadline to receive a taxable income instruction (where income tax is calculated this tax year) where sales are required. * |
| Thursday 20th March 2025 – 5pm | Deadline to set up an automatic Bed and ISA from a Parmenion GIA (for the 2025/26 tax year subscriptions). |
| Thursday 20th March 2025 - 5pm | Deadline to receive single PCLS instruction in order to crystallise in this tax year where sales are required. * |
| Thursday 20th March 2025 – 8pm | Deadline to manually instruct a Bed and ISA from a Parmenion GIA using the online tools for the 2024/25 tax year. * |
| Monday 24th March 2025 – 8am | Bulk Bed and ISA process will be initiated by the General Admin team (for the 2025/26 tax year subscriptions) * ‡ |
| Monday 24th March 2025 | Parmenion will begin to accept cheques that have been post-dated for the 6th April 2025 (2025/26 tax year). Please make sure that a sufficient expectation has been created against the portfolio to avoid the funds being returned. |
| Wednesday 2nd April 2025 – 5pm | Deadline to receive a single PCLS instruction in order to crystallise in tax year 2024/25 where portfolio is held in a cash solution. * |
| Friday 4th April 2025 - 1pm (final business day of the 2024/25 tax year) | All product subscription cheques to be at Parmenion’s head office. We only accept personal cheques. Banker’s drafts or cheques drawn directly from or signed by a building society are not accepted and will be returned. |
| Friday 4th April 2025 - 3pm (final business day of the 2024/25 tax year) | CHAPS payments - please check with your bank to ensure the funds will clear into the Parmenion Client Account on 4th April 2025. |
| Friday 4th April 2025 - 11.45pm (final business day of the 2024/25 tax year) | Faster Payments (immediate) - please check with your bank to ensure the funds will clear into the Parmenion Client Account on 4th April 2025. |
| Monday 7th April 2025 (first business day of 2025/26 tax year) | Cheques post-dated for 6th April 2025 will be applied if a sufficient expectation has been created in advance. Any ISA subscriptions received on or after this date will be applied to the 2025/26 tax year. There can be no carry back to the previous tax year. |
Important notes:
*Assumes that at the start of the process all funds are settled and ready to be sold, with no outstanding processes on the chosen portfolio.
† Any manual portfolio to portfolio transfers instructed after this date will be initiated but may not meet the deadline for the 2025/26 tax year.
‡ The automatic Bed and ISA process will only initiate if the source portfolio holds a value of £500.00 or more. If you have instructed an automatic Bed and ISA and the source portfolio doesn't meet these criteria, but holds over £10.00, you will receive a notification instructing you to run this process manually using the online tools if needed after the 6th April 2025.
Please note: the automatic Bed and ISA process also won’t run and you’ll receive no notification if:
- the source portfolio is not active or has been closed down
- the destination portfolio is not active or has been closed down
- the source portfolio holds less than £10.00 value
- there’s a portfolio to portfolio transfer already in progress
Transfers
We can’t guarantee a transfer will complete in time for:
- GIA funds to be used for 2024/25 ISA subscriptions
- SIPP funds to be crystallised in the 2024/25 tax year
- ISA subscriptions to be made with Parmenion for the 2024/25 tax year if there are current year subscriptions with the previous provider
Website tools
Unused allowances
ISA allowances expire at the end of each tax year and cannot be carried forward. You can check unused subscription allowances for your clients by clicking on ‘ISA allowances’ from the tab on the left immediately as you log in. Please speak with our Client Services team if you would like any support using this functionality.
Money in
To open an ISA or a SIPP we’ll need a complete and correct application, this includes all declarations. New subscriptions must be made by cheque or electronically and we must have an open expectation for the amount on the platform. If there’s a difference in the amount we receive and what we’re expecting, we’ll ask you what to do. If we can’t get clarification within a working day for cheques, or 9 working days for electronic payments we’ll return the payment.
Automatic Bed and ISA
Our automatic Bed and ISA process is set up to make sure subscriptions are made to ISAs at the start of the tax year. To use it, please make sure your clients’ accounts are set-up using the Configure Automatic Bed & ISA tool by close of business on the Thursday 20th March 2025.
For more information on this feature please get in touch with our Client Services team.
Direct Debit overflows
If there’s no overflow portfolio set up for a client, and we receive a Direct Debit into an ISA that would oversubscribe the ISA for the current tax year, we’ll return the full Direct Debit, regardless of whether they have some allowance left.
2024/25 allowances
- ISA £20,000
- JISA £9,000
Parmenion are not able to lend money to clients against the security of non-ISA assets to fund subscription allowances. Early action is advised to ensure clients do not lose their allowances.
Flexible ISA replacement subscriptions
If funds are being sent to us following a withdrawal from your flexible ISA, please ensure that the funds are received within the 2024/25 tax year, otherwise the subscription will be allocated to the 2025/26 tax year.
