Paying less tax – Tip 1
Posted on March 8th, 2008 by Michael
Isa Allowance
With an individual savings account (ISA) everyone can store £7,200 from April onwards in cash , shares, bonds and investment funds. The Isa accounts do not have to be declared on tax returns but if you don’t use this allowance then you will loose it.
This isn’t just for the wealthy investors but by using a standard savings account you may be throwing money away. With an Isa you don’t have to pay tax on the interest but you also tend to benefit from more competitive rates.
To find out more about an Isa contact your bank, building society or fund manager.
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