14 March 2011
We are approaching the end of the 2010/11 tax year and with it the deadline to use your £10,200 personal ISA allowance. Up to £5,100 can be invested in a cash ISA while the whole of your annual allowance can be invested in stocks and shares if you wish. Contributions can be paid as lump sums and/or regular premiums. Each person over the age of 18 has their own individual allowance.
ISAs provide a welcome shelter from income and capital gains tax and allow tax free withdrawals at anytime. This makes them an integral part in most investment strategies and a useful means to complement your pension planning.
If you have been saving into ISAs for a number of years you may have built up substantial funds. In what are difficult times for many, it is even more important than ever to regularly review your holdings to ensure they are providing the returns you are seeking without exposing you to excessive levels of risk.
If you would like to consider your ISA options or review your overall position then please contact UHY Financial Planning who will be pleased to help.
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