With April starting tomorrow (1 April) – I’m not joking – as always there is a lot of attention being paid to the annual ISA deadline. Not only is it on the minds of longstanding investors, it also sometimes attracts the notice of would-be stock market investors who wonder whether this might finally be the right moment for them to start buying shares.

Might it?

The deadline’s about contributing, not investing

At first glance, the answer seems to be no.

The annual deadline is about putting money into an ISA, not investing it.

Once the money is in the ISA wrapper, it could potentially sit there for years before someone puts it to work in the stock market. So, there is no necessary, direct connection between the deadline and buying shares.

Seen another way, though, there may be a link between the two things.

If someone wants to start buying shares, it makes sense for them to consider doing so as tax-effectively as they can. A Stocks and Shares ISA is a commonly used investing vehicle precisely because it allows many investors to do that.

So, putting some money in before this tax year’s allowance expires could be a savvy move for someone to consider now, even if they have not yet decided what they will end up investing it in.

Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.

Choosing the right ISA – and the right shares

With the focus on ISAs at this time of year, some providers offer promotions to try and attract customers.

So it can be a smart time to compare different options and choose one that seems right for your own individual needs.

As I said above, it is possible simply to open a Stocks and Shares ISA and put some money into it, with no rush to start buying shares. However, I do think that the current stock market turbulence means there are some high-quality shares that currently look attractively priced.

My own approach when hunting for shares to buy is to stick to business areas I feel I understand, focus on the quality of the business, consider its long-term prospects, and decide whether I think the share price is attractive. A great business can make a terrible investment if you pay too much for it.

A share I like for the long term

As an example, one share I own is Pets at Home (LSE: PETS). The FTSE 250 company has a chain of pet supply shops, as well as vet practices.

Pet lovers are usually willing to spend on their animals and the market is fairly resilient, as there is always a fairly sizeable population of furry friends.

With its extensive network of shops, popular membership programme, and strong brand, Pets at Home has been able to do well out of this market.

Indeed, it has a dividend yield of 7.2%, suggesting that buying £100 of its shares today could earn an investor around £7.20 of dividends annually.

Dividends are never guaranteed, though, and the company today signalled a new dividend policy that will likely lead to lower future payouts.

The chain has had challenges, including the wrong product assortment hurting its retail sales.

In a trading statement today (31 March), the firm said its retail turnaround plan is progressing. I see that as positive, but weakening retail sales remains a risk for the company.

However, with lots to like and a juicy dividend to boot, I see it as a share for investors to consider.