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Investors: Maximise Your ISA Savings Now

Investors have less than two months until the end of the 2016/17 tax year - time to get your ISA savings in order and boost your pension contributions

Emma Wall 9 February, 2017 | 8:15AM

 

 

 

Emma Wall: So, we've celebrated the beginning of a new Gregorian New Year and indeed we've celebrated Chinese New Year, but have you given any thought to the new tax year. Now that it's February there are less than two months to go until the end of the tax year. Which means if you haven’t taken advantage of your tax efficient savings allowances for the tax year 2016-17 now is the time to do it.

You can shelter more than £15,000 in ISA and of course you also get a pension allowance which you can save into a workplace pension or a SIPP. Now it's also a good time to review how much you are saving into a work place saving scheme because of course around January, February many people get a pay rise and if your employer matches your contributions, it might be time to tick up how much you say into that scheme. 

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author Emma Wall

Emma Wall  is Senior Editor for Morningstar.co.uk