Paying Too Much Tax: Use ISA Allowance
Published / Last Updated on 03/04/2008
Paying Too Much Tax: Use ISA Allowance
Paying too much tax can be changed quite easily. However, many people do use their tax free allowances such as their ISA allowance.
Research from IFA Promotions (the independent financial adviser lobby group) has revealed that Britons are needlessly paying £249m in tax as a result of savings that do not take advantage of ISAs while £133m is paid in taxes incurred as a result of equities being held outside ISAs.
Our view
You need to the make the most of their ISA allowance. The deadline for contributing up to this year’s annual limit £3000 for cash ISAs or £7000 for maxi ISAs is today.
Get online and get those ISAs applied for today.
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Learn more about ISA allowance and related topics in the Savings Adviser Channel
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