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2020/21 Tax Planning Opportunities: ISA Allowance

With interest rates on cash savings extremely low, if you have cash savings you could achieve greater returns by investing into advised investment funds. £20,000 per year can be invested into ISAs completely tax-free, including any growth and income.

Where possible it is always a great idea to maximise your contributions (and your family's) every year.

Suitable if you:

  • Have cash savings
  • Are unhappy with the returns on your cash savings
  • Have capital gains liabilities

Those aged 18-50 can contribute up to £9,000 per year into a Lifetime ISA (LISA), which benefits from a 25% bonus from the Government - this can be used to fund a house deposit or for retirement.

Those under the age of 18 can still benefit:

  • Under 18s can contribute up to £9,000 per year into a Junior ISA (JISA)
  • Children of clients who are aged between 16 and 18 can have both a £20,000 cash ISA and a £9,000 JISA

Anyone over the age of 18 can have a stocks and shares ISA.

Please get in touch with us to discuss your ISA options in more detail.

 

Get In Touch

Please get in touch if you want to talk more about how we can help you.
We offer an initial consultation free of charge which gives us the chance to meet and discuss your needs, with no obligation.

Accountants in Solihull

Lumaneri House, Blythe Gate, Blythe Valley Park, Solihull, B90 8AH

0121 693 5000

Accountants in Bromsgrove

Five Mile House, 128 Hanbury Road, Stoke Prior, Bromsgrove, B60 4JZ

01527 833124

Accountants in Coleshill

112 High Street, Coleshill, Warwickshire, B46 3BL

01675 466344

Jerroms is a trading style of both Jerroms Business Solutions Limited 08923059 and Jerroms (Bromsgrove) Limited 08433008.
Registered office for each of these companies is: Lumaneri House, Blythe Gate, Blythe Valley Park, Solihull, B90 8AH