It’s 20 years since ISAs were launched and they remain one of the most popular ways to save and invest.
Your annual ISA allowance is a valuable opportunity to help grow your money and shelter it from any further liability to Income Tax and Capital Gains Tax. But to counter threat of inflation, you need to invest it wisely.
Yet, since 1999, four out of five ISA subscriptions have been deposited into Cash ISAs. Those savers risk failing to make the most of this long-term, tax-saving opportunity, as returns remain near record lows. In fact, for most of the last decade, the average Cash ISA account has lost money in real terms.
Despite accounting for only one in five subscriptions, Stocks & Shares ISAs represent over half the total value held in ISAs. It shows the benefits of investing your ISA allowance in assets that have the potential to create long-term capital growth and income.
A St. James’s Place Stocks & Shares ISA brings together our distinctive investment management approach and the ongoing advice and support that can help you make the most of this long-term, wealth-building opportunity.
The maximum you can save into an ISA in this tax year is £20,000, but any unused allowance is lost after 5 April.
To discuss this year’s ISA allowance, or any other financial planning needs in the run-up to the end of the tax year, please contact me on email@example.com.
I look forward to hearing from you.
Partner of SW Financial Planning