Have you taken advantage of your ISA allowance?

Gains and most income in Individual Savings Accounts (ISAs) are tax-free, and they are ideal for saving small, regular amounts.

You have until 5 April 2008 to make your 2007/08 ISA investment. ISAs are available from banks, building societies and a variety of other providers. The maximum annual deposit is £7,000 overall, of which no more than £3,000 can be in cash.

6 April 2008 sees the introduction of significant changes to the ISA regime, which include making ISAs available indefinitely, and removing the designations of 'mini' and 'maxi' ISAs. The 2008/09 investment allowance will be increased to £7,200, of which up to £3,600 can be invested in a cash ISA. There are also proposals to allow Child Trust Fund accounts to rollover into ISAs on maturity.

Contact us for further information on the changes, and how they may affect you.

Year End Strategies 2007/08

Disclaimer:
This guide is prepared as a general guide only. No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by the author or publisher. Always seek professional advice before acting.