Don't miss out

If you are thinking about taking out an Individual Savings Account (ISA) or using up any unused allowance, time is running out if you want to meet the 5 April 2008 deadline.

With the equity markets going through a period if turbulence if are concerned about allocating your full ISA allowance to equities, there are other strategies you may wish to consider. One is to split your ISA allowance between cash and equities, investing up to £3,000 in a cash ISA account and up to £4,000 in a stocks and shares plan.

From this April, the overall ISA allowance increases to £7,200, with a maximum £3,600 allowed in cash. ISA rules will also be simplified from April, removing the distinction between mini ISAs and maxi ISAs and bringing personal equity plans (PEPs) under the ISA umbrella.

The biggest change is that cash ISA savers will for the first time be allowed to switch accumulated cash ISA savings into stocks and shares, although you cannot switch equity investments to cash.

If you need advice before the end of the tax year please call us on 01438 726464 for more details.

Date: 12/03/2008
Category: BUSINESS ADVERTORIAL