Independent Financial Advisors Enable of Bishop’s Stortford want to remind you to take up your individual ISA allowance before the end of the financial year if you can, and to remember that the new Individual Savings Account (ISA) allowance for the 2012/13 tax year will be £11,280. The new ISA allowance, will become available from 6th April 2012, and is £600 higher than the current limit of £10,680 for 2011/12.
Remember you can invest up to £5,640 into a cash ISA with the remainder up to the total allowance of £11,280 available to invest in an investment ISA. Enable know that ISAs are core part of financial portfolios and are able to make sure you maximise your tax efficiency by saving in them.
Remember the Mini and Maxi? In the past, ISA rules were unnecessarily complicated, making savers fret about whether to go 'Mini' or 'Maxi'. Thankfully since the 2008/09 tax year, this became history. Yet anyone who had savings in either of these should be aware of what happened when the terms were dropped. Did you have Mini ISAs? These were places to hold Cash or Shares separately from each other. If you had a 'Mini Cash ISA', this has now converted into a 'Cash ISA'. If you had a 'Mini Shares ISA', this is now labelled a 'Stocks and Shares ISA'. With Maxi ISAs, the two types of investments were bundled together, and bought from the same provider. Now Maxi ISAs have been abandoned, the cash element automatically became a 'Cash ISA' and the shares element evolves into a 'Stocks and Shares ISA'.
Enable can help you sort out your ISA s.
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