Your annual ISA allowance remains one of the simplest, most flexible and popular ways to invest for your future and shelter money from Income Tax and Capital Gains Tax.
Yet despite the tax-saving benefits on offer, only one in five ISA subscribers maximise their allowance¹. What’s more, nearly three quarters of subscriptions are still deposited in Cash ISAs - £39.8 billion in the last tax year² - despite the near record-low returns on offer.
The maximum you can save into an ISA in this tax year is £20,000, but any unused allowance is lost after 5 April. It’s a valuable opportunity to grow your wealth and protect it from the twin threats of taxation and inflation. But to make the most of it, you need to invest it wisely.
As the end of the tax year approaches, individuals yet to use their ISA allowance need to ensure that they are maximising this valuable opportunity. Those with accumulated ISA savings should also check whether their money could be working harder for them.
Please get in touch to find out more information.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The favourable tax treatment given to ISAs may not be maintained in the future, as they are subject to changes in legislation.
¹, ² HMRC, ‘Individual Savings Accounts (ISA) statistics’, September 2018.