Every UK resident over the age of 18 can hold an Individual Savings Account or ISA for short and there’s no doubt that this offers a tax efficient way to save to put money aside for a rainy day or a special occasion.
The good news for the new tax year that runs from 6th April 2012 to 5th April 2013 is that the investment levels for ISA’s have been increased from the previous limit of £10,680 up to a new annual maximum of £11,280.
So if you’re looking for a savings or investment opportunity, an ISA can help you save on tax and therefore increase the returns your money can enjoy. You can also have access to your ISA funds at any time, making them a flexible way to plan your savings.
Shepherds Friendly Stocks and Shares ISA lets you invest up to the new £11,280 limit on a regular monthly basis, from a minimum of £30 a month, and/or to invest lump sum investments from a minimum of £500 at a time. Any growth achieved in your ISA is free from income and capital gains tax and there’s no need to include the Shepherds ISA on any annual tax return.
You can subscribe to an ISA in each new tax year so it’s important to make sure you do use your full allowance each year, particularly in view of the recent increase in the allowance. You can apply for a Shepherds Friendly ISA through our web site by completing a simple online form and you can also top-up any existing Shepherds Friendly Stocks and Shares ISA online too.
Shepherds Friendly also offers a tax-efficient Junior ISA for parents looking to save for their child’s future. You can open a Junior ISA for any child who is aged 18 or under and is not eligible to have a Child Trust Fund opened in their name. The maximum you can invest in the Junior ISA remains the same this tax year at £3600 per child and you can save from just £10 a month and in lump sums from £100 at a time to build a really useful tax-free lump sum when they reach the age of 18.
So the benefits of making ISA’s a key part of your savings strategy are clear. Applying online for a Shepherds Friendly Stocks and Shares ISA is easy, simply click here to get started.