New ISA allowance ‘has worked well’
Informed Choice chartered financial planner Martin Bamford was quoted in an article today explaining how the new ISA allowance of £10,200 a year has ‘worked well’.
“I think that the additional £3,000 Isa allowance has worked well to raise the profile of ISA investments and also make it a more meaningful tax-efficient investment allowance,” remarked Mr Bamford.
The Informed Choice finance specialist pointed out that the new regulations allow a couple to protect over £40,000 of investments from tax during the last few weeks of one tax year and the first few of the next.
Apart from the tax effficiency of an ISA investment, a big attraction for investors is not having to declare any of the income or gains to HM Revenue & Customs each year.