An intricate system of tax avoidance has been announced by New Star which means that investors in its bricks and mortar international property fund could receive income payments tax free.
The fund has been structured in a way that when property is bought or sold, it is the holding company that changes hands rather than the property itself.
This means that land tax and stamp duty payments are largely avoided. (more…)
Holders of Individual Savings Accounts (ISA’s) have started to search the market for the best deals, according to new figures from ICM research.
Around 900,000 consumers have already decided that they can get a better deal on their ISA with another provider and have moved their money, says the report commissioned by Intelligent Finance. (more…)
Pensioners have been warned that although money invested in ISA’s is exempt from tax in their lifetime, they do not offer protection from inheritance tax (IHT).
Office of National Statistics (ONS) data shows that there are currently around 165,000 investors aged 70 who hold ISA’s and Peps valued at in excess of £100,000 - all of which could be eligible for IHT. (more…)
More than a third of Britons would only consider setting aside their bonuses in savings schemes like ISA’s if they were more than doubled in size, it has been revealed.
What’s more, no matter how large the bonus received almost eight in ten people (79 per cent) have already “mentally spent” the cash before it has even reached their pockets, according to research carried out by Alliance and Leicester. (more…)
The diversity of benefits offered to savers by individual savings accounts (ISA’S) has been highlighted by the Pep and ISA Managers’ Association (Pima).
With just 45 days left until the end of the 2006-2007 tax year, investors should think about taking advantage of the range of ISA investments available. (more…)
Marks & Spencer (M&S) Money is launching a new fixed-rate savings option with mini cash ISA product.
Available from the end of the month, the new option is targeted at customers seeking a guaranteed high interest rate and provides greater flexibility for savers.
The new mini cash ISA can be arranged over a fixed-rate of one, two or three years, with interest rates based on the length of the term, up to 5.55 per cent AER. (more…)
Savers have been advised to take advantage of cash ISA’s offering fixed interest rates of around six per cent, as analysts have predicted that they won’t be on offer for very much longer.
If savers do decide to invest in fixed ISA’s, rates could be secured for up to two years, even if interest rates fall. (more…)
Marks and Spencer Money (M&S Money) currently offers savers three types of ISA’s: a mini cash ISA; a mini stocks and shares ISA; and a maxi ISA. Up to £3,000 in cash can be invested in a mini cash ISA; while a combination of cash and shares can be deposited in a maxi ISA up to a value of £7,000 - although only up to £3,000 can be invested in cash. For maxi ISA’s and stocks and shares mini ISA’s, money can be invested in one or more of M&S Money’s five trust funds.
It should be known that it is not possible to subscribe in the same tax year to a maxi ISA and a mini ISA, more than one mini ISA of the same type, or more than one maxi ISA. M&S Money also stresses that although stocks and shares ISA’s offer the prospect of large returns, there is risk involved and it is possible that any initial investment may not grow and might even become devalued. ISA’s are a medium to long term investment, with a recommended investment period of 5 years. (more…)
Financial services company Bradford & Bingley has announced the launch of a new one-year mini cash ISA.
The interest rate for the ISA, which is designed with those people who have yet to use up their ISA allowance for the tax year 2006/7 in mind, is to be fixed at 5.9 per cent per annum AER (annual equivalent rate).
The limited edition offer is available until April 5th - the end of the current tax year - or until the account’s quota has been taken up. (more…)
M&G offers two types of ISA: the mini ISA and the maxi ISA. Up to £3,000 cash can be invested in a min ISA, or £4,000 in stocks and shares. A combination of cash and stocks and shares - or just stocks and shares - can be invested in a maxi ISA, up to the value of £7,000. However, only £3,000 of that £7,000 can be invested in cash.
There are seven funds to choose from should a saver decide to invest in stocks and shares, and these are divided into three categories: funds to be invested in for income; funds which promise growth; and funds for investors looking to diversify. No initial charge is payable on any M&G ISA account if a lump sum is invested, while no exit fees are payable if the money is invested for five years or more. (more…)
