Savings and Investments

ISAs and PEPs


Individual Savings Accounts (ISAs)
Overall investment limit £7,000
Including cash maximum of £3,000

Notes

  1. 'Stakeholder' cash and medium term products can be held in your ISA, and from 6 April2011you will still be able to hold an insurance policy in your ISA, but the separate 'Mini insurance ISA component' will end and instead, depending on the type of insurance policy you hold, your policy will now qualify for the;

    • Mini ISA cash component - (limit remains at £3,000)
    • Mini ISA stocks and shares component (limit increased to £4,000)
    • Maxi ISA - with a limit of £7,000, but no more than £3,000 in cash.

  2. Investments in ISAs are free of income tax and capital gains.
  3. Those aged 16-17 can invest up to £3,000 only, either in the cash element of a maxi-ISA or in a cash mini cash ISA.
  4. ISAs allow you to take your money out at any time without losing tax relief and furthermore you are not required to declare income and capital gains from ISA savings.

Personal Equity Plans (PEPs)

Although PEPs are no longer available, sums already invested continue to score for tax breaks.

 

 

Want better TAX ADVICE for 2016?

Setting up in business | Legal Compliance | Keeping informed | Planning for profit | Raising finance |
|
Managing growth | Buy, sell or merge | Minimising tax | Agreeing tax liabilities | Tax Rates 2015/ 16 |

Contact Demack Accountants

Are you human: 2+3=?

Our Services

Business start-ups, Accounts Preparation, Tax Planning and Advice, Tax enquiry and investigations, Personal & Business Taxation including Income Tax, Self Assessment Tax, Coming into/Leaving the UK, Inheritance tax, Capital Gains Tax, Corporation Tax, National Insurance, PAYE, Value Added Tax Advice and Company Secretarial services

What a Demack Chartered Accountant can do for you? Call 020 784 1122