Use it or Lose It
Finance advice supplied by Town & Country During these uncertain times, it’s more important than ever that your money works harder for you. One of the first steps to achieving this is to make sure any investment returns you make are as tax efficient as possible. As the end of the financial year draws ever closer, it’s important not to forget about any ISAs (Individual Savings Accounts) you may have, and any remaining payments that you’re allowed to make. You must save or invest by April 5th for it to count for that year. The amount will then reset again on April 6th 2021 whether you have paid in the maximum amount or not, so make sure you take advantage of your full allowance whilst you can. The main advantage of investing your money into an ISA is that any money you pay in is exempt from taxation on withdrawal, allowing you to potentially build up interest on invested funds much more readily than in other forms of savings or investments. The maximum allowance for ISAs for the 2020/21 financial year is £20,000, which you can split between stocks and shares ISAs, cash ISAs, Innovative finance ISAs and Lifetime ISAs. This is where a professional adviser can help you decide which option is best for you. To get more details of how ISA’s can benefit you, speak to Town & Country Financial Advisers to discuss all your options. Call on 01769 574674 for a free initial consultation. (See advert pages 32/33)
Please mention Molton Monthly when contacting advertisers
45
