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ISA Deadline Comes Early

22 March 2010

Investors face missing out on their 2009/10 ISA allowance this year if they leave it to the last minute. With Good Friday falling on the 2nd April and Easter Monday on the 5th April the deadline is brought forward to Thursday 1st April.

If you would like to secure your ISA allowance and maximise your tax favourable ISA ‘pot’ over the long-term you must act quickly. ISA applications and subscriptions to be received by 1st April in order to be processed in time for the tax year end (5th April) leaving two fewer days in which to make arrangements.

Most people put money saved up into an ISA, but it is less known that if you already have shares you can capture your allowance by transferring these into an ISA through a process called a ‘Bed & ISA' – sell your shares and buy them back in your ISA to secure tax efficiency. Commission is only charged on the sale.

The deadline for a ‘Bed & ISA’ is Thursday 25th March for certificated shares, and Monday 29th March if held in a Redmayne-Bentley nominee account. For more details call 0113 200 6580 or contact your local Redmayne-Bentley branch

The current ISA allowance is £7,200 for those aged under 50, and £10,200 for those aged 50 or over.

Everyone will move to the new higher allowance of £10,200 in the new tax year which starts on 6th April 2010.

Getting a good rate of return on your hard earned money is currently a challenge for everyone. In March, interest rates were left unchanged at a record low of 0.50% for the 12th month in a row; this came as no surprise as economists widely believe that any increase in the cost of borrowing may damage the UK's economic recovery. This leaves the rate of interest on cash deposits very low, so it is definitely worth looking at other investments to get the most out of your money.

You can opt for a ‘managed’ stocks and shares ISA or choose to ‘self-select’ your investments, but in either case an ISA taken directly through a stockbroker can also provide a very personal approach to your investments at generally lower cost than an ISA offered by a fund supermarket.

To apply and/or add funds for this year's ISA:
Call 0113 200 6580, or
Contact your your local Redmayne-Bentley branch

You can also:
Find out more at: Tax Efficient Investments
Download an ISA brochure and application form

Fiona Lumb
Marketing Manager
Tel: 0113 200 6471

Branch: Leeds (Head Office)

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