| Are You Making The Most Of Your Savings - ISA Advice - Jan 2010 |
| Articles - Savings |
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Have you done your ISA yet for this tax year?
Have you done your ISA yet for this tax year? Don't miss out on this valuable tax benefit! This week sees inflation jump from 1.9% to 2.9% meaning that a standard rate tax payer now has to earn at least 3.63% to break even, while a higher rate tax payer has to earn at least 4.81%. A level that for the first time ever, no variable rate account on the market can beat and one only a few fixed rate deals can achieve. The only positive news for savers this week is that the 2010 ISA season has really started to gather pace with a number of provider launching new deals. In contrast to other types of savings account where rates are now falling, ISAs rates are slowly increasing as providers look to attract savers' tax free allowance. For the first time since their launch in 1999, the best buy ISA rate is below that offered on standard savings accounts. The majority of the new ISA deals being launched are fixed rate deals requiring between a one and three year commitment. This is a trend that is likely to continue in the weeks ahead as providers look to tie savers money in by attracting them with more competitive rates than those available on easy access ISAs. Also of course Equity based ISA's are available for those willing to invest for the longer term, the markets have improved somewhat since the turbulence of the last couple of years. Your preffered IFA should be able to help you with the best adice. They should be monitoring this for you on at least a quarterly basis. You should be looking at investing for at least 5 years. We hope this advice helps you make a decision at the start of 2010 DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Looking to find the best deal on ISA Advice Jan 2010, then visit www.yoursite.com to find the best advice on UK ISA Advice for you. |