Month: June 2015

I read an article the other day that said that 77% of British adults have no idea of the new ISA rules that came into effect in July 2014. The changes were supposed to make ISAs more attractive to investors and simpler however there is a general feeling that the changes have not been explained well enough. Perhaps the radical changes in pensions and the Lamborghini effect has played its part in distracting us! Here is a summary of what has changed: New ISA annual allowance- the ISA allowance (the amount you can invest each tax year) has risen to £15,240. Improved flexibility- historically there were restrictions on how you could split your allowance between Cash ISAs and Stocks & Shares ISAs. Now you can split your allowance as you choose. New death benefits- investments are normally subject to Inheritance Tax (IHT) of 40%, if the total value of your estate excee...