News

06/10/2009 - ISA Limits for Over 50's Increase Today

From October 6th 2009, the annual ISA allowance limit is increasing to £10,200 for individuals 50 or over…the rest of the population has to wait until next April before they get the same allowance. 

This tax year (2009/10), the standard allowance for ISA investment is £7,200, of which up to £3,600 of which can be in cash. However, following announcements in the 2009 Budget, if you are over 50, then you benefit from an ‘early bonus’. From tomorrow, the allowance for over 50s has been increased further – to £10,200, £5,100 of which can be cash.

Money invested within an ISA attracts no further liability for income or capital gains tax on any profits - indeed, you do not even have to tell the taxman that you have one. There are also thousands of different investment options available – from cash and bonds through to property, equities and even overseas companies – so you can be confident that, whatever your aims and objectives, there is a suitable home for your money. As your professional financial adviser, it is my job to make sure you get that right.

Should you wish to discuss investing in an ISA for the current tax year, please do not hesitate to contact our office.

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