https://www.taxfile.co.uk/wp-content/uploads/2020/03/taxfile-logo-2020.png 0 0 Mark https://www.taxfile.co.uk/wp-content/uploads/2020/03/taxfile-logo-2020.png Mark2010-04-10 11:02:002010-04-10 11:02:00New ISA rate
Individual Savings accounts (ISAs) allow people to save or invest up to a limited amount of money without paying money on the interest gained.
In this year’s budget, Alistair Darling announced new limits for the ISA for the year starting on 6th April 2010.
What this means for the savers is that instead of a limit of £7200 for Stock and Shares ISA’s they now have one of £10,200.
Also the Cash ISA increased its limit from April this year from £3,600 to £5,100.
If the rate of inflation averages out at the government’s predicted target at 2 per cent, the ISA limit could rise above the £10,400 for the year 2011/12 tax year.
Statistics gathered by Barclays show a worrying 42 per cent of the nation did not even know about this increase and an even more alarming 70 per cent of the population does not even know how much they can invest into an ISA.
Monday: 9 am-6 pm
Tuesday: 9 am-5 pm
Wednesday: 9 am-4 pm
Thursday: 9 am-3 pm
Friday: 9 am-2 pm