The end of the tax year

It’s the last day of the 2017/18 tax year and I’ve achieved my goal. Hoorah! 🙂

I’ve managed to squirrel away £20K in both Mrs FmC and my own ISA accounts.

Due to some cashflow problems (i.e. peer-to-peer loans that didn’t get paid back on time!) I even had to borrow £9K from my parents. I wasn’t happy doing this (and neither was Mrs FmC, for fears of strings being attached) – but needs must. I’ve promised I will pay it back within 3 months (and I am a man of my word!).

I am going to have to tread very carefully over the next few weeks, as I have hardly any cash on hand whatsoever. So I will be deferring as much to next month’s credit card bill as I can. Thank goodness I get paid fortnightly, that’s all I can say! 😉

My plan is to try and contribute the full annual allowance into both ISAs each of the next 4-5 years, until I reach FI. They will then serve as a buffer between when I quit my job and when my main SIPP becomes accessible, 5 years later.

How have you got on making use of your tax free allowances?


  1. That’s 100K in 5 years… that is some going! Nice! 🙂

    I am ashamed to admit that I didn’t use any of our ISA allowance at all last tax year.
    However, in my defence I have been trying to build up a more liquid cash pot that I can chuck at other stuff, and also (please don’t judge) chucked quite a bit of cash into Cryptocurrencies. With a lot longer horizon to FI, I thought it was worth a shot, and if that doesn’t pan out it might only cost us half a year or so at the end of it all. No biggie. If it goes very well it could shave off 5 years.
    It was worth the gamble in my opinion although many others will see that as reckless/stupid.


    1. One of the reasons I think saving £100K in 5 years is even remotely possible is because of crypto! So I certainly won’t judge you nor call you reckless/stupid 🙂 I’m a big fan myself and although that was never part of my original FI plan, it is now. I call that scenario FatFI and without it LeanFI. Either way I hope to stick to my planned retirement date..

  2. Hey, just found your blog, from

    I also put 20K into my ISA last year (17/18) and plan to do the same this year (18/19). However, much to my wife’s annoyance as she is not allowed one (4 months too old!), 4K of my ISA goes into a LifeTime ISA. The government bonus is lovely (25% instant return!) although being tied in until 60 is the downside.

    1. Hi Jon – thanks for stopping by (and great to hear where you found my blog).

      I certainly missed out on the LISA too but am content with a normal S&S ISA. I like the flexibility of being able to withdraw at any time (and without tax liabilities).

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