ISA's explained!
A shelter from rising taxes – the new ISA allowances
With effect from 6th April 2010, all savers and investors have an entitlement to shelter £10,200 of their savings and investments each year from tax by using their Individual Savings Account (ISA) allowance.
An ISA is a simple and cost effective way of ensuring you minimise the income tax and capital gains tax you pay on your savings and investments and given that ISAs do not lock your money away, you may wonder why everyone doesn’t use them.
ISAs - Complicated? Expensive? In-accessible? – not at all!
When asked about ISAs, many people are under the illusion they are expensive, complicated and tie your money up for long periods of time.
Whilst there may be some ISAs which are all three, seeking good quality financial advice should ensure that not only do you benefit from the tax breaks an ISA offers but that you continue to have access to your money, the money is working hard for you and you have a clear understanding of how your money is being put to work. Furthermore, they can also be used to provide a regular income.
Time for a spring clean?
Many people are either unhappy with their savings and investment performance or had an uncomfortable shock when there were significant drops in investments as the ‘banking crisis’ took hold in 2008.
Tax is also expected to continue to rise in the UK and therefore now is as good a time as any to ensure your savings and investments are on track, being well looked after and are tax efficient – particularly given that you now have larger ISA allowances to use.
Dobson and Hodge Financial Services
Given that investment advice is a specialised area, we have entered into a relationship with Dobson and Hodge who are a local firm of Independent Financial Advisers, based in Doncaster – they were established in 1920 offering advice to their clients and we are happy to recommend their services.
They will offer you an initial meeting, free of charge and without obligation, so that you can better understand the opportunities available to you in respect of savings and investments.
If you wish to speak with us first about their services, please contact Alan Roberts. Alternatively, if you would like to speak directly with Dobson and Hodge, please contact our business associate who is their Financial Services Director, Paul Stocks, on 01302 323465 or Email him at paul.stocks@dobsonandhodge.co.uk and he can begin to discuss your requirements with you.