Making the most of the last day in the Tax year


With today being the last day of the tax year, ensure you make the most of your ISA allowance for 2015/16.

It is also worth considering when did you last reviewed your ISA?

With over 23 million adults now holding an ISA, in one form or another, this represents a combined market value of over £483 billion*.

With an ISA your money grows free from any personal liability and therefore any gains are not subject to income tax or capital gains should you take the money out.

An ISA can be used to provide a tax free income or tax free cash lump sum and the ISA allowance for the 2015/2016 tax year is £15,240.

Over time many funds alter their investment strategy and change their Fund Manager. This can lead to an investment drift, where what started as a suitable portfolio can end up holding very different assets.

This could lead to an investor being exposed to much more, or much less risk than they intended, plus the interests rates on ISA’s can vary widely and you may not be getting the best value for your ISA any more.

What we can do?

We can help you to review existing ISA holdings and ensure they are on track to match your goals.

Here at Leonherman we have relationships with a number of IFA’s and can introduce you to the one who best suits your needs. They can review your current ISA and even arrange a new ISA for 2016/2017 if this is advantageous for you to do so.

You can also view the full ISA guide from Money Saving Expert Martin Lewis here

Get in touch to find out how we can best help you or call 0161 924 0253

*Source: HMRC ISA Statistics, August 2015

*Image courtesy of Money Saving Expert