Category Archives: Savings

ISA limit update

March 21st, 2018

The maximum annual investment limit for Individual Savings Accounts (ISAs) will remain at £20,000 for 2018/19 (of which, for eligible investors, £4,000 may be saved in a Lifetime ISA). Although the investment limit is not rising in the new tax year, a couple will still be able to add up to £40,000 to their ISA […]


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The OTS outlines future work plans

November 17th, 2017

The Office of Tax Simplification (OTS) has published a paper outlining its future works programme, identifying areas of interest that the office will be looking at in the next twelve months and beyond. The OTS is currently working on a review of VAT, and expects to publish its report in October or November 2017. Work […]


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HMRC launch further Help-to-Save consultation

October 15th, 2017

Following an earlier period of consultation, HMRC have published draft legislation along- side a further technical consultation document, setting out proposals for the main features, processes and requirements of the new Help-to-Save accounts scheme, which is set to commence in 2018. Help-to-Save will be targeted at working families on low incomes to help them build […]


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Lifetime ISA Guidance Updated

October 19th, 2016

HM Treasury has updated its factsheet on the new Lifetime Individual Savings Account (ISA), which are expected to launch in April 2017. Key features of the new ISA include: – Accounts may be opened by investors aged between 18 and 40. – Savings invested in the account before age 50 will attract a government bonus […]


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Help-To-Save consultation launched

July 20th, 2016

HMRC have launched a consultation on the government’s proposed ‘Help-to-Save’ scheme, which is designed to encourage people on low incomes to build up their savings. Broadly, the scheme will be open to some 3.5 million adults in receipt of universal credit with minimum weekly household earnings equivalent to 16 hours at the National Living Wage, […]


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Personal savings allowance update

March 14th, 2016

From 6 April 2016, the personal savings allowance (PSA) will allow basic rate taxpayers to receive up to £1,000 of savings income tax-free. For higher rate taxpayers, this limit will be £500. HMRC have published guidance setting out details of what counts as savings income and how the allowance will be calculated, including some useful […]


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Introducing Innovative Finance ISAs

January 8th, 2016

From 6 April 2016, a new type of Individual Savings Account (ISA) will be launched – the Innovative Finance ISA. This new ISAs will be able to hold peer-to-peer (P2P) loans, which often pay significantly higher returns than cash accounts. Broadly, P2P lenders act as middlemen by matching people who wish to invest cash with […]


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