Have you used this year's ISA allowance?

My message is use it or lose it! It is very rare that the government provides something which shelters your money from tax – but an Individual Savings Account has no liability for income or capital gains tax on any profits you receive, except for the 10% withholding tax paid by the funds on UK dividend income.

Introduced as a replacement for PEPs to encourage more people to invest in unit trusts, and other collectives, ISAs have now become a primary savings vehicle for many adults. Each person has an annual individual ISA allowance of £7000. Currently up to £3000 of this can be invested into a Mini Cash ISA and up to £4000 into a Mini stocks and shares ISA. Alternatively you can invest the whole £7000 into an equity Maxi ISA.

If you have money to invest you have until the 5th of April to take advantage of your 2007/2008 ISA allowance. Your application will need to be received by the ISA provider by this date so you need to act quickly.

If you would like to review your investments contact Langtons today for your no charge or obligation review.