Fill up Your ISA Before You Lose Your Tax Allowance
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
The end of the 2016/17 tax year is fast approaching, and with it, so is your last chance of taking full advantage of the efficiency that comes with investing in a Stocks & Shares ISA.
What Are the Benefits?
As you know, the reason thousands of us save or invest into an ISA in the first place is due to the favourable tax benefits that you get. So, by using up your ISA allowance, you can achieve maximum tax efficiency for your investments as you do not pay any capital gains tax or tax on any income generated other than dividends on ISA investments, plus there’s no tax to pay when you withdraw from your ISA.
What Is the Current ISA Allowance?
You can shelter up to £15,240 in a tax efficient ISA before 6 April 2017. This allowance does not roll over, so if you don’t use it, you will lose it.
How Do I Top up My ISA?
As a client of True Potential, topping up your Stocks & Shares ISA is quick and easy. We give you a number of ways to do this:
- From just £1 online or through the True Potential Investor app with impulseSave®
- Use the ‘Max My ISA’ feature, which enables you to see exactly how much of your allowance you have left with True Potential, and invest it all with just one click.