Savers - Make the most of your Tax-Free ISA Annual Allowance
30 March 2012
As the end of the 2011/12 tax year approaches, savers should make the most of their tax-free ISA annual allowance.
Individual Savings Accounts (ISAs) have an annual subscription limit of £10,680, of which no more than £5,340 may be saved as cash. However, savers need to act now to avoid missing the 5 April deadline.
On 6 April 2012, the ISA allowance will rise to £11,280 for the 2012/13 tax year. Up to £5,640 of this can be saved in cash with one ISA provider. The remainder can be invested in stocks and shares with either the same or a different provider.
For more information and advice on your tax and financial planning needs, please contact us.