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Isa allowance to go up in April | Isa allowance to go up in April |
(1 day later) | |
The upper limit on the sum that can be saved in an Individual Savings Account (Isa) will rise by £480 next year. | |
In line with an announcement made in the Budget, the rate of inflation in September will determine the Isa threshold from the following April. | In line with an announcement made in the Budget, the rate of inflation in September will determine the Isa threshold from the following April. |
So, the annual Isa limit is expected to rise from the current level of £10,200 to £10,680 in April 2011, or £5,340 for a cash-only Isa. | |
More than 20 million UK residents are estimated to have a tax-free Isa. | More than 20 million UK residents are estimated to have a tax-free Isa. |
Entitlement | Entitlement |
"With rising taxes, savers and investors really should make sure they put as much as they can in their Isa each year," said Rob Fisher, of Fidelity Investment Managers. | "With rising taxes, savers and investors really should make sure they put as much as they can in their Isa each year," said Rob Fisher, of Fidelity Investment Managers. |
"Over 42% of the UK population are still not taking up their Isa allowance. Isas are an all year round use-it-or-lose it tax perk and a perfect way to avoid giving hard-earned money straight back to the taxman." | "Over 42% of the UK population are still not taking up their Isa allowance. Isas are an all year round use-it-or-lose it tax perk and a perfect way to avoid giving hard-earned money straight back to the taxman." |
Tax-free Isas were introduced in the UK 11 years ago to encourage people to save. | Tax-free Isas were introduced in the UK 11 years ago to encourage people to save. |
Half of the total can be saved in cash, with half, or all, in stocks and shares. | Half of the total can be saved in cash, with half, or all, in stocks and shares. |
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