Morningstar's New Tax Year, New ISA Week 2013

SPECIAL REPORT: Don't leave it to the last minute: take advantage of these tax-efficient investment wrappers all year round

Holly Cook 5 April, 2013 | 5:00PM
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That nothing can be said to be certain, except death and taxes, is one of the many reasons why individual savings accounts (ISAs) are so popular in the UK. To save and grow one's assets without having to pay the tax man is undeniably an attractive proposition. Furthermore, with record low interest rates entering their fifth year, there's little reward for saving cash other than for short-term requirements.

British savers can make use of tax-efficient ISA wrappers to save cash and/or invest in stocks and funds on an annual basis. For (too) many, the end of the tax year marks a final opportunity to top-up the amount they have vested in their ISA so that they make the most of that year's tax-free allowance. The start of the new tax year on April 6th rings in new investing opportunities with a new annual allowance. 

In the 2012/2013 tax year, individuals can sock away a maximum of £11,520 in investments in an ISA wrapper, with up to half the total (£5,760) available to be held in cash savings. 

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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.

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About Author

Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites