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Sheila
Tarr
Independent
Financial Services |
Hot topic | |
Aged 50 or Over?The new ISA allowance comes into effect on 6 October 2009 which means that 21 million people in the UK who will be aged 50 or over can save an additional £3000 in an ISA. The rise from £7200 to £10200 is an exciting opportunity that could make a real difference to your investments and a valuable chance to protect further savings from the taxman.The allowance will be increased for all ages with effect from 6 April 2010, but the initial increase is available only to those aged 50 or over in October, allowing you to maximize this tax years allowance. Any money you save in an ISA is free from Capital Gains tax. There is also no further tax to pay on any income you receive. This means you can build up a substantial sum over the years, which you can withdraw whenever you want. This increase to your ISA allowance comes at a time of record low interest rates, and while we continue to be in a recession we know it will not last forever. We have seen healthy growth from many investments over the last 6 months and we believe now is a fantastic opportunity to review your existing savings and investments, coupled with maximizing the new ISA contributions. If you would like to discuss the new rules and opportunities for ISAs or to review any of your existing savings and investments please contact Sheila Tarr I.F.S. on 01489 574355 for your free initial consultation. |
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