Last minute ISA contributions cost you thousands

Investing in an ISA in the middle of the tax year instead of joining the ISA season mad rush can add significantly to your returns, explains Fidelity's investment director Tom Stevenson in this video.

If you had maxed out your ISA contributions for each of the last 15 years and invested in a fund tracking the FTSE All Share, you would have lost almost £8,500 by waiting until the last minute to use your allowance instead of investing in the autumn, according to Fidelity's research.

A separate piece of research found that, while ISA investment has increased significantly since the annual allowance rose to £10,200, the majority of Britons are failing to use the tax break.

Read our guide to learn more about ISAs.

Filmed by Fidelity Investment Managers.