Tax Efficient Wealth Creation

Taking Advantage of the Increased Savings Allowance

If you are under the age of 50 you will also be able to take advantage of the increased tax allowance from April 6th, next year. ”

 Tax-efficient wealth creation

 Taking advantage of the increased savings allowance

 If you are considering your Individual Savings Account (ISA) options, the good news is that the permitted contribution allowance will be extended for investors over the age of 50 from 6 October this year.

If you are under the age of 50 you will also be able to take advantage of the increased allowance from 6 April next year.

The overall ISA limit will increase to £10,200 (up from £7,200), although the maximum tax-free entitlement will remain unequal for those depositing savings and those investing in shares. You will be able to invest up to £10,200 in a share ISA, whereas the maximum cash ISA deposit will be £5,100.