Sep
30
How Changes to ISA Allowances Could Help You Make Millions
On October 6th, the annual ISA allowance will increase from £7,200 to £10,200 for investors aged 50 or over this tax year. From April 6th 2010, this new allowance is extended to anyone aged 18 or over.
Together with last year’s new rules, this rounds off the most significant changes to ISAs since their introduction ten years ago.
All the benefits remain; within an ISA you pay no capital gains tax and no further tax on all the growth made. The new rules simply mean ISAs become more flexible and allow you to shelter more of your assets from tax than ever before.
In today’s blog I want to explain to you why I welcome these changes and, more importantly, how they can benefit you.
