Have you invested your full NISA allowance for the 2014/2015 tax year?

Since changes were made to ISA’s (Individual Savings Account) in 1^stJuly 2014 they are now referred to as NISA’s.  A NISA is a tax efficient way for you to save or invest each year.  To make the most of this year’s allowance you must invest by the 5^thApril 2015.

NISA’s provide you with the following tax benefits:

• If you save into a cash NISA you will not pay any tax on the interest you earn
• NISA’s invested into stocks & shares will not be liable for Income or Capital Gains Tax

During the current tax year the Government announced the following changes to your allowance, which took effect from 1^stJuly 2014:

• Individual annual NISA allowance increased from £11,880 to £15,000, (so a married couple can now invest up to £30,000 per annum)
• Junior NISA allowance increased to £4,000
• NISA allowances can now be split between a cash NISA and a Stocks & Shares NISA
• Stocks & Shares NISAs can be transferred to cash NISAs

If you opened your 2014/15 NISA before the 1^stJuly 2014 you can now add to the initial amount you saved or invested before 5^thApril 2015.

If would like to discuss how you can benefit from the new NISA changes please contact our Visionary Wealth Management team on 01727 730550.  As Visionary Wealth Management is an Independent Financial Adviser we guarantee to provide you with the most appropriate financial advice for your situation.