Easter weekend is being celebrated but many of the stressed savers and investors will be hurrying to use up their tax- free Isas allowance before April 5. It has been predicted that an amount of more than £500m will be made as an investment in equity shares and cash over the Easter weekend.

Savers have approximately 365 days for investing £7,200 tax-free in an Isa. Isa is an abbreviation for Individual Savings Account, which is a tax wrapper aimed to help in the saving of individual money. Hence, whatever investment is made in Isa results into an interest or gain which is not taxable.

Various banks have given the privilege to the existing customers to make money on their savings and allowed a maximization of their Isa allowance but this option is closed for the new customers.

Mark Dampier of Hargreaves Lansdown said, "It happens every year, people have all year to invest, but leave it late in the day. You can bet that we will have someone log on to our website to invest in an Isa at 11.55pm on April 5 - with just five minutes left before the tax year ends".