For the New Tax year for 2017-2018 the announcement that Allowances on ISA’s (Individual Savings Account) has increased is very good news for savers.
Here are the key points to consider when deciding on how to invest in ISA’s.
- You can invest from £15,2490 to £20,000 from April 2017 tax free
- You should invest at the beginning or as close to the start of the new tax year to gain maximum growth
- £20,00 can be invested into a Cash ISA or into a Shares ISA
- There is also the popular option of dividing this amount between the two types of ISA’s
- All interest and savings are tax-free for cash ISA’s
- All dividends and capital gains earned are tax-free from Share ISA’s
- For Share ISA’s you need to weigh up risk and accessibility before deciding how to invest
Get Expert Advise
To get expert advice on which ISA options are best for you please contact our team of dedicated Accountants & tax experts to discuss your options.