Your ISA Allowances

From 6th April 2010, everybody's ISA allowances rose to £10 200 a year.

That's £5100 in a Cash ISA....plus £5100 in a Stocks & Shares ISA.

Posted by Sean Wilson, APFS, Independent Financial Advisors (IFA), Swindon, Wiltshire.

ISAs: Tax Free Gains Part 1

ISAs will be heavily promoted by financial institutions in the next few months. Individual Savings accounts (ISAs) are simply savings vehicles which allow you to keep gains without tax being deducted.

Eg you make 5% gain on £1000 you keep everything
Normally you tax would turn it into a 4% gain (standard rate) or a 3% gain (higher rate tax band)

There are 2 basic types:

Mini ISA: Maximum Investment £4 000 per year
Maxi ISA: Maximuum Investment £7 000 per year

To be continued in Part 2

ISA Deadline 5 April.Use your Allowance or Lose It!


Related: ISAs Part 2: Mini & Maxi, Best Share ISAs, Maximise ISA Potential, ISA Deadline 5 April
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