An Individual Savings Account, or ISA, is a great way to put money aside in a tax-efficient way. The current tax-free ISA allowance is £20,000 a year, which means you pay no income tax on the interest or dividends you receive from it.
With the end of the financial year fast approaching, we recommend topping up your ISA very soon if you haven’t already hit the tax-free limit. On 6th April the limit resets again to £20,000, so there’s still time to add to the 2020/21 tax-free limit before the 2021/22 financial year begins.
Making the most of your tax-free ISA limit is an excellent investment and results in you getting more from your hard-earned cash.
Need help with your tax and accounts? Call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in our contact form.
