Fidelity International explains Isa tax boost

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Fidelity International explains Isa tax boost

Tue 23rd Mar 2010

Paul Kennedy, director of tax and trust planning for the company, advised that no one should invest singularly for the tax rewards without understanding what they hope to achieve from the Isa.

He said: "Investment should always first accord with objective and attitude to risk before we consider tax planning."

Mr Kennedy advised that equity was the type of investment which provided a lower percentage boost as well as a greater return.

However, Fairinvestment.co.uk recently reported investors had lost over £15 billion in unnecessary tax payments in 2008 and 2009.

It was also found that 37 per cent of taxpayers subscribed to an Isa and only 11.3 million accounts were opened in the UK last year.

The new Isa allowance limits will be raised to £5,100 on April 6th.

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