New ISAs -
“We are backing a Britain that saves” In the Budget on 19th March 2014, George Osborne announced some significant changes for the Individual Savings Accounts (ISAs). On July 1st, the annual ISA allowance is due to rise to £15,000. Previously there was a limit on the amount that could be paid into a Cash ISA, however, savers will be able to put the full amount into a Cash ISA if they wish to. ISAs will be much more flexible going forwards. The plan is to merge the two different ISAs to create one single New ISA.
ISAs will be much more flexible going forwards. The plan is to merge the two different ISAs to create one single New ISA.
Celebrating ten years in business Mary O’Leary established Downs Inventory & Property Services in 2004 to provide an independent service to the Lettings Industry in East Kent.
At the moment, it is not possible to transfer a Stocks and Shares ISA to a Cash ISA, however, this will be changing. Therefore if your circumstances change and you want to hold your money in cash, you will not lose the tax efficient status. This is great news for savers who have had an awful time over the last 5 years due to the abysmal interest rates. Before the Budget, the planned ISA allowance for 2014/15 was £11,880. Any ISAs opened between 6th April and 30th June should automatically become a New ISA on 1st July with the higher limit of £15,000. You should then be able to top up your New ISA. However, if you do open a Cash ISA before 1st July please double check that you can definitely add to it later this year. For example, if you open a Fixed Rate Cash ISA it may not be possible to add an additional contribution at a later date. Be sure to check with your Cash ISA provider. To discuss the features of ISAs and for help with managing your existing plans, contact Louise Pepper APFS, BA Hons on email@example.com or visit www.bespokefinancialplan.co.uk. Louise Pepper T/A Bespoke Financial Planning is an appointed representative of Financial Ltd which is authorised and regulated by the Financial Conduct Authority (FCA).
Formerly Residential Services Director at the Barbican Estate in London, she wanted to use the knowledge and skills gained over more than 25 years in residential management Inventory compilation, Mary, says is no simple process. The detail required these days means it can be very time consuming particularly on older, larger or character properties which is why a lot of Lettings Agents prefer to outsource the work and Landlords like an ‘independent’ service. With two universities and various student properties, Canterbury provides a hectic environment for Mary during the summer months but her services extend to all professional lettings year round in the whole of East Kent. With a keen eye for detail, snagging for property developers and new owners is also a service provided as well as specific property condition reports for lawyers and solicitors. Mary, who is a Chartered Member of the Institute of Housing and an Executive Member of the AIIC (Association of Independent Inventory Clerks), is looking to continue growing her business with the assistance now of her husband and other associates.
June-July 2014 ThinkingBUSINESS