Managing your ISA
How do I keep track of my ISA allowance?
A simple record-keeping routine for multiple accounts, tax years and Shariah evidence.
The short answer
Keep a tax-year contribution log for every provider and ISA type. Keep confirmations and compare your log with each provider's displayed allowance. A provider display may not show money you put elsewhere.
Use one record for the whole tax year
Make a simple sheet with date, provider, ISA type, amount, transfer status and confirmation reference. Update it when money leaves your bank, not only when an app display changes.
The UK tax year runs from 6 April to 5 April, so label each entry with the tax year.
Shariah-compliance considerations
Save methodology versions, screening dates, fund documents, cash-interest policy and any purification notes with your transaction records. This helps with an annual review.
ISA tax records and Shariah records answer different questions. Keep both.
What this means in practice
- 1Create one tax-year sheet with all providers and ISA types.
- 2Save confirmations, statements and transfer correspondence.
- 3Separate contributions from sales, investment growth and withdrawals.
- 4Store the latest Shariah methodology and cash-policy documents for each holding.