Make the most of the new ISA allowance

 

From this tax year the Chancellor has given you an opportunity to invest more into your ISA tax efficiently. You can invest up to £20,000 in your ISA this year – a significant increase on the previous allowance of £15,240 for the 2016/17 tax year.

The rate of inflation has increased in recent months, pushed up by rising fuel and food costs, and this in turn will have an impact on the ability to achieve a real rate of return on your savings. It reinforces the importance of ensuring your money is invested effectively to protect it from being eroded by inflation.

Reasons to invest in a stocks and shares ISA

It’s wise to make use of the tax break granted to you. Investing in an ISA can be a fantastic way to invest in a tax-efficient environment.

  • Your ISA remains one of the most tax-efficient methods of investing.
  • Accessing stocks and shares over the long term gives you the potential for achieving a return in excess of that usually associated with cash returns.
  • Investments made into your ISA can be tailored to suit the level of risk that you are willing to take with your money.
  • The value of your ISA upon death may be passed to your spouse in the form of an additional ISA allowance.

Remember, the sooner you invest, the longer your money has the potential to grow.

Please contact me us you would like to discuss how best to take advantage of your full, tax-efficient ISA allowance.

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