Regular Savings
Are you using a bank or building society account for your regular savings? If so, you are handing the taxman more than you need to, because these days there are several ways of saving and taking a tax advantage at the same time. This is the age of the ISA – which means that as a saver, you can have your cake, and eat it too!
Find out more about ISAs here or call 0800 678 5929 now!
You do not necessarily need a large lump sum to set up a balanced programme of monthly savings. There are many products which combine an option for regular savings with the prospect of better returns than the traditional bank deposit account. We repeat: if you are not taking advantage of the tax incentives now on offer, you are literally handing your hard-earned cash over to the government!
We can put together your balanced savings programme right now!
Click here for financial advice or call 0800 678 5929 now!
The ISA as a regular savings account
The Individual Savings Account (ISA), in its cash version, offers tax-free growth for your money. The amount you can save is subject to an upper limit, as of April 2010, of £5,100 per year. The cash ISA offers the same degree of security as a standard bank account, but with this added incentive of tax-free growth. Many of the ISAs on the market do not require a lump sum investment, but instead offer the option of regular monthly savings. Some set a minimum monthly contribution, others allow a degree of flexibility in how much you must save.
The ISA also comes in a stocks and shares variant, which as a stock market vehicle is more suited to placing funds for the longer term, for ten to fifteen years or more. The maximum annual investment in a stocks and shares ISA as of April 2010 is £10,200, or £5,100 if you have invested in a cash ISA as well. The stocks and shares ISA is an attractive route to spreading your savings across a range of underlying funds investments, while retaining the benefits of tax-advantaged growth.
Find out more about ISAs here or call 0800 678 5929 now!
