New ISA Limits - 10,200 is the new 50!
If you are 50 before the 5th of April 2010 you can take advantage of the increased ISA limits now!  If you are lucky enough to be too young, don’t worry, you get your new limit from the 6th of April 2010.

If you are over the age of 50 in this tax year then you are able to take advantage of 43% an increase on your overall ISA limits from the 6th October.

                                     Old limits      New Limits from 6/10/2009
Cash ISAs                     £3,600                     £  5,100
Stocks & Shares          £7,200                     £10,200

For instance:

If you have used up your current stocks and share’s ISA allowance of £7,200 and you are over 50 during the tax year 2009/10 then you have an additional £3,000 allowance to use.

If you are over 50 years of age and have used the full cash allowance of £3,600, with effect from 6/10/2009 you would be able to use the remaining £6,600 for a Stocks & Shares ISA or put £1,500 further into your Cash ISA (if your provider will accept it) and £5,100 into your Stocks & Shares ISA.

To take advantage of the new limits please contact us at Ashwood Law

Alternatively for further information please contact Chris Bennett on 0845 073 0874
or email her on advice@ashwoodlaw.co.uk

Web site: www.ashwoodlaw.co.uk

 

Past performance is not a guide to future returns and the value of investments, and any income from them can go down as well as up. You may not get back as much as you put in.

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