Kingsley Financial Planning—independent financial advice

ISAs can offer major tax efficiencies and give you a good return for your money.

ISAs were introduced in 1999 replacing Personal Equity Plans and Tax Exempt Special Savings Accounts (TESSAs). Existing PEPs and Tessas continue to be exempt from personal tax. You can make up to £7,000 tax-free although the recent scrapping of the 10% Tax Credit on Share Dividends in an ISA has made it more 'tax friendly'. The tax free £7,000 maximum is available until the 5 April 2006, after then the limits will be reduced to £5,000. If you choose a Mini Cash ISA you cannot then invest in a Maxi ISA in the same tax year.

As previously mentioned PEPs were the forerunners of ISAs and you may have PEPs that need analysis as people are notoriously poorer at analysing and quantifying the investment performance of their PEP holding. We can offer advice and analysis of your current portfolio and suggest ways of improving performance without any obligation on you to take up our service.