ISA

With the end of the tax year looming there is still time to save tax for 2018/19. Make full use of your ISA allowance - ISAs can offer a useful tax free way to save, whether this is for your children's future, a first home or another purpose. Individuals may invest up to a limit of £20,000 for the 2018/19 tax year. Savers have until 5 April 2019 to make their 2018/19 ISA inv ...

The end of the Tax Year is just around the corner (5th April 2019) and it would be prudent to make use of certain allowances and reliefs by this date. Here are 8 tips to maximise your tax efficient financial planning . . . Maximise pension tax relief Individuals, up to age 75, can benefit from relief at their marginal rate of income tax on up to 100% of their gross earni ...

The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that ‘austerity is coming to an end - but discipline will remain’. He also promised a ‘double deal dividend’ if the Brexit negotiations are successful but stated that there may be a full-scale Spring Budget in 2019 if not. You can find more information on the Bud ...

Today (25 May) marks the biggest change to UK data protection law in a generation.    The General Data Protection Regulation (GDPR) is an evolution of the current Data Protection Act (1998) and comes into effect today. Regulated by the Information Commissioner’s Office (ICO), the new law gives people more control about how their data is used, shared and stored and requires or ...

Although retirement may seem like something that might happen in the distant future, it is important to plan ahead. Time is your most valuable weapon. Building sufficient assets to fund your retirement will take a long time and it's worth getting into the savings habit as early as possible. Even putting away a small amount on a regular basis can make a real difference over the ...

Savers aged between 18 and 40 can open a new Lifetime ISA (“LISA”) from April 2017. LISAs are, according to HM Treasury, designed to help young people to save “simultaneously… for a first home and for their retirement, without having to choose one over the other”. Up to £4,000 can be saved into a LISA each year by savers between the ages of 18 and 50, and LISA savers will recei ...

ISA

It’s never too early to start thinking about saving for the future. A Junior Individual Savings Account or ‘JISA’ gives children the opportunity to start saving early – via cash, stocks and shares, or a combination of the two – within a tax-free wrapper. The maximum amount that may be paid into a JISA in the 2017/18 tax year is £4,128. This can be invested into a cash JISA or a ...

ISA

A: Unfortunately HM Revenue & Customs makes no allowance for human error – a second ISA opened during the same tax year as an earlier application will become fully taxable. You cannot nominate the second ISA as your preferred account for the year under any circumstances. This is particularly relevant for regular savers, as the first payment after 6 April automatically opens ...

ISA

Low interest rates might be great news for borrowers but they can have a devastating effect on the long-term wealth of savers. Furthermore, when inflation runs in excess of interest rates, the buying power of your money will be eroded, even though the value of your capital might appear safe. Therefore, you need to keep a close eye on the amount of interest you are making on you ...

ISA

Sometimes, having owned your Individual Savings Account (ISA) for a few years, you might notice that the underlying investments no longer give you what you need. Alternatively, because your circumstances have changed, you might wish to switch to another ISA provider with a wider choice of funds. How can you shift your investment without jeopardising the tax benefits? You can t ...

ISA