Posts From July, 2014

A NISA way to save 

Tuesday, July 15, 2014 12:00:00 PM Categories: ISAs

You may have seen recent press articles on the changes to ISA limits from 1st July 2014. Called the NISA (new-ISA), you are now able to save up to £15,000 each year, up from £11,880. If you have already taken out an ISA in the 2014/15 tax-year it will have automatically converted into a NISA

We have always promoted the use of ISAs as a cornerstone of your investment portfolio due to their excellent tax benefits, including no Capital Gains Tax on withdrawal and no tax on any interest payments received, and this is still the case with the NISA.

However, you should still remember that you can only open one 'Cash' NISA and one 'Stocks & Shares' NISA in any tax-year. You should also be aware that any payments made between 6th April 2014 and 1st July 2014 will also count towards your annual allowance of £15,000.

As always, if you would like to discuss this further please get in touch.