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Tax free ISAs - NOW


Geoffrey Settle
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With the Tories in the shape of David Mawat and Paul Kennedy trying to claim to take the initiative on tax free savings on the front page of WWW last week. I'd ask them 'Where have they been since April 1999, have they forgotten about Tax Free ISAs?'.

 

Everyone regardless of wealth or income has until the end of March to take advantage of the current financial year's Tax Free saving opportunity. They don't need to have ?36,000 to do so!

 

Everyone has until the end of March to put away this year's investment allowance of anything from a couple of pounds to ?3,600. It has guaranteed protection of the Government.. In April they can save up to another ?3,600.

 

http://www.moneysupermarket.com/c/savings/isas/guide/

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Yes, cash or shares. The advantage with shares in an ISA is that if you can guess on a share that is going to rise substantially, the profit is tax free. An example would be ?3,600 invested late last November in Taylor Wimpey, and sold early last week would have returned a tax free profit of about ?20,000. But as they say...the value of shares can go down as well as up. :wink:

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