ISA’s – the basics – 2009/2010 tax year

A brief article covering the main aspects of investing in a ISA (Individual Savings Account) in the 2009/2010 tax year.

New ISA Rules – October 2009

ISA rules are changing on 6th October 2009 to allow those aged 50 and over to increase up to £10,200 each tax year into a Stocks and Shares ISA. Of this £10,200 allowance, up to £5,100 can be invested into a Cash ISA, with any unused allowance up to the £10,200 allowance being available to invest in a Stocks and Shares ISA.

Top 10 Personal Finance Articles – September 2009

Here is our usual monthly list of the top 10 read articles on shrewdcookie.com in September – there are some surprising entries!

Confused about the new ISA allowances and ISA limits?

I have been reading many articles recently about the changes in the ISA allowance and ISA limits coming about over the next 6-7 months so I thought I would summarise them in a nutshell and answer a few of the more common questions and enquiries we are receiving about the ISA limits increase in the 2009/2010 tax year.

Reminder – Cash ISA Allowance is Increasing!

Just a quick reminder that, as of 6th October 2009, the maximum which someone aged over 50 can pay into a Cash ISA in the current tax year is increasing from £3,600 to £5,100.

In the last Budget, the Chancellor of the Exchequer increased the Stocks and Shares ISA allowance from £7,200 to £10,200 for those aged over 50 (before 5th April 2010) with the increase coming into effect on 6th October 2009.

Top 10 Personal Finance Articles – August 2009

The following is a list of the top 10 read articles in August.

1. Pay Yourself First – the first step in wealth creation

This article discusses the need to save from income before spending it! This is a form of deferred consumption and by saving first and then spending what is left you can build a solid foundation to your financial future.

Tip – aim to start saving 10% of net income each and every month – it won’t be easy at first but your budget and lifestyle will adapt over time.

We’re going to spend our way out of recession!

I was reading this interesting article over on the thisismoney website about Alistair Darling’s plans to spend “whatever we can” to keep people in jobs during this recession.

In a country where the economy is inextricably linked to the housing market, can it be wise for a Government to simply try and spend its way out of recession?

Saving Money on Your ISA Charges

In times of low returns it is vitally important to ensure that your ISA and other investments are not suffering from high charges. This can be helped by investing through a “fund supermarket” or “discount broker”.

Budget 2009 – The Key Changes

Alistair Darling, Chancellor of the Exchequer presented his Budget for 2009 last week and below are the main points and changes contained in the Budget:

Read more…..

It’s not how much you save, but how long

Saving for income in retirement can be a daunting thought for most people. The problem they face is that they simply don’t know how much they need to save between now and retirement.

In this article we consider the time value of money, and in particular, the benefits to be enjoyed from “compound growth”.

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