The 2014-2015 subscription for a Stocks and Shares ISA (Individual Savings Account) was increased to £11,880 in the recent budget, and will further increase to £15,000 on July 1st. This is a tax efficient means of saving, particularly with respect to capital gains tax avoidance. Investment in stocks and shares outperform cash savings over the long term according to the Barclays Equity Gilt Study. It is not necessary to open a new ISA account each year, accumulated savings from previous years subscriptions that are still within an ISA, whether they be cash or stocks and shares ISAs, can be transferred and consolidated into one ISA account making control much easier.
To find out how ISA’s and investment can be an effective part of your long term savings and retirement planning call us at FD Financial Planning for an appointment on 01772 883881.
FD Financial Planning is a trading style of Cheetham Jackson JV LLP who is an appointed representative of Cheetham Jackson Ltd who are authorised and regulated by the Financial Conduct Authority (FCA).