6th January 2016
de Mellow & Co Wealth Management - Don’t let this year’s ISA allowance disappear
- Author: Chris de Mellow
- Published: 1st February 2016
Don’t let this year’s ISA allowance disappear
Although the Chancellor left the annual ISA allowance unchanged in his Autumn Statement, the opportunity to shelter up to £15,240 with no further tax to pay on income, and growth free from Capital Gains Tax, is still a very attractive and valuable one. What also hasn’t changed is that your allowance will be lost forever unless you invest before the end of the tax year.
Yet the majority of ISA savers still fail to make the most of the opportunity.
Nearly £79 billion was invested into ISAs in the last tax year, of which 80% was deposited in low interest-paying Cash ISAs*. The introduction of the new Personal Savings Allowance in April, which will enable savers to earn up to £1000 tax-free interest from a standard savings account, raises the question whether cash is the right home for your ISA.
The fact remains that the tax benefits of an ISA can only be maximised by investing for the long term in assets that offer the scope for attractive levels of income and capital growth.
Managing over £10.7 billion of ISA investments on behalf of our clients, St. James’s Place is the largest Stocks & Shares ISA provider (source: Investment Association, November 2015). Through the combination of our distinctive investment approach and a detailed understanding of your needs and objectives, we‘ll help you create a diversified and balanced ISA portfolio to stand the test of time.
I would urge you to think about making the most of your ISA allowance before it’s too late, and also consider whether it’s time to review any existing ISA portfolio you may have. Please contact Chris de Mellow for more information;
Chris de Mellow DipPFS
Principal of de Mellow & Co Wealth Management
*Source: HMRC, September 2015
An investment with St. James’s Place will be directly linked to the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
An investment in a Stocks & Shares ISA will not provide the same security of capital associated with a Cash ISA.
The favourable tax treatment of ISAs may be subject to changes in legislation in the future.
The Partner Practice represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group's wealth management products and services, more details of which are set out on the Group's website www.sjp.co.uk/products. The 'St. James's Place Partnership' and the titles 'Partner' and 'Partner Practice' are marketing terms used to describe St. James's Place representatives.
For more information contact de Mellow Co Wealth Management: - http://www.clanfieldonline.com/49/221/de-mellow-co-wealth-management
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