The increase in the ISA subscription allowance to £10,200 from 6 April 2010 is great news for investors. This further reinforces the use of ISAs as a tool to help you build a significant investment portfolio in a tax-efficient manner.
For those who will be aged 50 or over before the end of this tax year the news is even better. From 6 October 2009 you can subscribe £10,200 in the 2009/2010 tax year. With the stock markets showing signs of recovery and confidence returning, now could be a good time for you to think about investing and making the most of your increased ISA allowance.
In the April 2009 Budget, the chancellor Alistair Darling announced that from 6 October 2009 the ISA subscription limit will increase to £10,200 for anyone eligible to invest in an ISA who was born on or before 5 April 1960 (That is, those people who will be aged 50 or over during the current tax year). Up to £5,100 of the new ISA allowance can be saved in a cash ISA with one provider. The remainder of the £10,200 can be invested in a stocks and shares ISA with either the same or another provider. Alternatively, the full £10,200 can be invested in a stocks and shares ISA with one provider.
If you are not yet 50
From 6 April 2010 anybody who is eligible for an ISA will be able to take advantage of the higher limits.
Stiles & Company Financial Services (Petersfield) Limited is a firm of Independent Financial Advisers dedicated to providing a highly professional service to our clients, spread predominately across Hampshire, Sussex & Surrey.
