More ISA benefits for over 50s
As of 6 October 2009, people born on or before April 5 1960 can now invest up to £10,200 a year into an ISA, £5,100 of which can be held in cash.
The new limits, which come into force for all age groups from the start of the new tax year in April 2010, were announced by Alistair Darling in this year’s budget.
Around 6 million people who pay into an ISA each year stand to benefit from this increased allowance.
Check with your ISA provider if you are on a fixed rate product that you are able to subscribe to the higher rate.
For more information please contact mark.busby@dbsellek.co.uk or 01344 620495
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