Tag Archives: tax-free

Change in ISA Allowances – Budget 2009

Budget 2009 – ISA Allowance Increased – from 6th October 2009

In his Budget speech on the afternoon of 22nd April 2009, Chancellor of the Exchequer, Alistair Darling, announced that with the maximum amount which can be invested in a tax-efficient ISA will rise from £7,200 to £10,200. Read more……..

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New Tax Year – New ISA Allowance – 2009/2010

Yesterday, 6th April 2009, marked the beginning of a new tax year – all last year’s planning is now closed and we each start the new tax year with a clean slate and the opportunity to make positive changes in our personal finances.

With the dawning of a new tax year comes the ability to contribute to another ISA allowance.

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Non-taxpayers – ensure you receive interest on your savings without tax deducted

As most non-taxpayers will know, interest on bank and building society accounts is paid net of tax at 20% – savings rate tax.

Unless you complete a Self-Assessment tax return the only way to ensure that you are not paying unnecessary income tax on your bank or building society accounts is to register for payment of interest on their savings accounts without any tax deducted.

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ISA’s – Individual Savings Accounts

As we approach the end of another tax year on 5th April many will be mindful of the need to fully utilise their ISA allowance – you may have heard people mention ISA’s but you’re not quite sure what they’re all about – something tells you they’re risky!

An ISA (Individual Savings Account) is a form of tax-efficient savings and investment product.

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