Make sure you don’t pay more tax than you need to!
That is the message from independent professional services firm Wilton which is highlighting the benefits of Individual Savings Accounts (ISAs).
Whether you are saving for retirement, travel, a holiday home or just financial security for the future, ISAs offer a great way to grow your money without losing out to the taxman.
As investors face an increasingly complex and changing set of tax rules, the cost of choosing the “wrong” savings vehicle can be very large.
James Robson of Wilton said: ‘We naturally all want to make the most of tax-free savings and investments for ourselves, our children or grandchildren.
‘At Wilton, we believe an ISA is a tax-efficient way to save or invest for the future. Each year the government sets an annual allowance which is the maximum you can put into an ISA in any given year.
‘Choosing which one to go for can be complicated – particularly if you’ve not got time to iron out a knot of technical terms and financial buzzwords – but it can be very worthwhile and help safeguard your savings income.’
Wilton has outlined the below advice to help:
Individual Savings Accounts
Currently the annual allowance for the 2019-2020 tax year is £20,000. All monies in an ISA remain tax-free and at our pensions provider, Hartley, we have a range of products to choose from. We currently offer the Hartley Stocks and Shares ISA, the Hartley Innovative ISA and the Hartley Junior ISA (JISA). Our transparent charging structure, choice of investments and individual customer care are among the many benefits of choosing Hartley as your ISA provider. Upon opening an ISA, you will be assigned a highly-trained ISA administrator who can answer any enquiries. We are so confident that you will be impressed with our service, we do not charge a fee to transfer your Hartley ISA to another provider.
Choosing the right ISA to meet your current and future savings needs
Our ISA products have been developed to meet the needs of the modern investor. Your circumstances may change, your investment strategy may change but your ISA provider does not need to. We offer a comprehensive range of ISA products to meet your needs now and tomorrow.
Innovative ISA
The Hartley Innovative ISA enables peer-to-peer (P2P) lending and tax-free interest repayments. You can lend up to the maximum annual allowance to an individual or to a company, effectively cutting out the middleman. The borrower repays this loan over time at an agreed interest rate and all loan repayments are tax-free when held within the ISA.
Stocks & Shares ISA
We offer the Hartley Stocks and Shares ISA which gives you the freedom to choose what you wish to invest in and how you would like investment gains to be treated. You can invest in a wide range of HMRC-allowable investments in the UK and abroad and you can make regular payments into your ISA, up to the maximum annual allowance.
Hartley Junior ISA
It is never too early to save for your child’s future. Our low fees and efficient administration ensures that the JISA is tax-efficient and stress-free. You can choose which platform you want to use and the child can take control of the account when he or she reaches the age of 16. At aged 16 or 17, the young adult can open an adult ISA and concurrently run the JISA. At aged 18, the JISA can be transferred to an adult ISA. There is no tax due on any capital gains or dividends in the JISA and the annual allowance for the 2019/2020 tax year is £4,368 and for the 2020/20201 tax year will be £9,000.
To find out how Wilton can help you, get in touch today and visit: www.wiltongroup.com
