>

Please feel free to get in touch

Point of View

Time to act; the ISA 5th April countdown has begun

 

Now is the time to take advantage of the ISA allowance for 2016/17 before it expires at midnight on the 5th April.

Time to act!


This tax year, the ISA allows you to save or invest a sum of £15,240 in cash, shares or a combination of the two, tax efficiently.
Are ISAs any good?

Any monies which are held in cash savings or taxable investments are likely to be better off in an ISA if you’re a tax-payer. ISAs are tax efficient accounts and many people use their allowances each year so that in time a large proportion of their wealth is shielded from paying tax on gains made.

What about my old ISAs? 


If you are worried about the interest rate or investment performance of your old ISAs, you can transfer them into a potentially better performing ISA account without losing their tax efficient wrapper. 

Is now a good time to review all of my savings and investments?


Yes, especially if you have held your savings and investment accounts for some time. It may be that you have money which is being saved for long term projects, such as retirement, that would be better off invested if you are happy to accept additional risk, rather than being held in cash. It is always a good idea to review your situation regularly, and re-evaluate why it is that you are taking risk with your capital, and to check your savings are still producing good returns. 

What are the 2017/2018 ISA allowances?

 

Following the Autumn Statement made by the Chancellor in November it was confirmed that the ISA, Junior ISA and Child Trust Fund annual subscriptions will be changing. The ISA limit will be increased to £20,000, while the Junior ISA and Child Trust Fund limits will adjust to £4,128.

If you are unsure about how to top up your ISA or you want to talk about reviewing your investments and next year’s allowances please get in touch with your financial adviser.
 
 

Please remember any views or facts expressed above are based on information received from a variety of sources which we believe to be reliable, but are not guaranteed as to accuracy or completeness. Any expressions of opinion are subject to change without notice. None of the information should be regarded as advice. Past performance is not a reliable indicator of future results. Investing involves risk and the value of investments and the income from them may fall as well as rise and is not guaranteed. Investors may not get back the original amount invested. Any tax treatment is dependent upon individual client circumstances and may be subject to change.

SWP (Registered in England and Wales, No. 3879955), SLP (Registered in England and Wales, No. 980142), SFS (Registered in England and Wales, No. 2354894). Registered Office: St. Bartholomew's House, Lewins Mead, Bristol BS1 2NH.

SPI (Registered in England and Wales, No. 2041819). Registered Office: 16 South Park, Sevenoaks, Kent TN13 1AN.

Investing involves risk and the value of investments and the income from them may fall as well as rise and are not guaranteed. Investors may not get back the original amount invested.