Deb Nolan, independent financial adviser Leeds / Bradford

Deb Nolan IFA Bradford - Have you used this year's ISA allowance?

Friday 3 February, 2017

Deb Nolan, Independent Financial Adviser (IFA) in the Leeds / Bradford financial planning team recommends you review your financial planning before the new tax year on April 6th 2017.

Deb Nolan, Independent Financial Adviser in Leeds / Bradford, offers independent financial advice to clients in Yorkshire. Deb Nolan said: ‘At the start of a new year and as we approach the new tax year, it is worth spending some time reviewing your finances to ensure you have used all your allowances. You can invest the whole of your individual ISA allowance of £15,240 in a Stocks & Shares ISA before April 6^th 2017, or up to £15,240 in a cash ISA, with any balance invested in a Stocks and Shares ISA. This allows a couple to invest £30,480 in tax efficient investments before April 6^th 2017. It has been announced that, for the 2017/2018 tax year, the maximum you can invest in an ISA will increase to £20,000 per person. This is great news for savers, as a couple will now be able to invest £40,000 tax free next tax year. If you invest in tax efficient savings products now it may benefit you when you retire, if using in conjunction with pensions, for example. Future withdrawals from your ISA are not subject to capital gains tax or income tax, so, by using ISAs as part of your retirement planning solution, it may be possible to reduce your overall tax liability in retirement. If you have children under the age of 18 they may be eligible to open a Junior ISA (maximum investment £4,080 before 6^th April 2017).’

Lonsdale Services recommend our clients have a regular individual planning review with their independent financial adviser to ensure that they continue to plan tax efficiently. Our consultants will offer independent financial advice appropriate to your personal circumstances. We also recommend you set up a Lifetime Financial plan so your financial planning keeps on track into retirement.

Please note: "The Financial Conduct Authority does not regulate tax advice."

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