The end of the tax year on the 5 April brings with it a ‘use it or lose it’ deadline for your annual ISA allowance.
An ISA has an annual allowance of £20,000 and the benefit that at the point you withdraw some, or all, of the accumulated funds, the proceeds will be free of any tax. Therefore, making the most of this allowance can help you to achieve your long-term financial goals.
If you would like to add funds to your existing ISA before the end of the tax year, we can help. Call our office on 01244 470452 to discuss the best way to do this.
An ISA is a medium to long term investment, which aims to increase the value of the money you invest for growth or income or both. The value of your investments and any income from them can fall as well as rise. You may not get back the amount you invested.
HM Revenue and Customers practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.
For specialist tax advice, please refer to an accountant or tax specialist.
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