Archived article: This article was correct at the time of publishing. Tax, investments and pension rules can change over time so the information below may not be current.

Happy new (tax) year

The new 2017/18 tax year is here and with it comes the arrival of your new and improved tax allowances. Read on to find out how much you can invest this year, as well as some great ideas on how to make the most of your new allowances and take control of your investments.

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How much can you invest in an ISA, Junior ISA and pension in 2017/18?

This year you can invest:

  • An impressive £20,000 in an ISA
  • £4,128 in a Junior ISA
  • Up to £40,000 in a pension

Be an early bird

There are many reasons to start using your allowances early in the tax year. Your investments will grow tax-free for longer and you could get a higher return over the year (although this isn't guaranteed and the value of your investments can fall). You can also avoid the rush in 2018 and the stress that often comes with it.

Open an ISA Open a SIPP

Don’t have a lump sum to invest? Set up regular savings instead

We appreciate that not everyone has a lump sum to invest. Alternatively, you can set up regular savings, where money is taken automatically each month. Once it’s in place, you don’t need to do anything else. Regular savings can also help to smooth out the ups and downs of the market.

Consolidate and make the most of your money

With ISAs and pensions, it’s not usually a case of the more the merrier. Transferring them into a single ISA or pension is often a great way to make the most of your money without investing another penny*. You’ll benefit from:

  • Lower fees – with fewer providers charging you for their services, it’s likely less of your money will disappear in fees and more can be invested
  • Less paperwork – you’ll spend less time and effort filling out forms or sorting through paperwork
  • Easy to manage and review investments – with your investments under one roof it’ll be easier to buy and sell investments and see how they are performing

It’s easy to transfer your ISAs and pensions to Bestinvest – we take care of everything and we’ll also pay up to £500 towards any exit fees**.

Find out more about consolidating

Book a free consultation with one of our financial planners

We have a big team of expert financial planners available through our wider Tilney Group. They are here to advise you on everything from retirement planning to passing on your wealth, and with financial planners all over the UK, you’ll receive a local and professional service. Book a free appointment to find out how they could help you.

Book a free appointment

We’re here to help

If you have any questions about your accounts or investments, we’re here to help you. Call us on 020 7189 9999 or email best@bestinvest.co.uk.

Important information

The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. Prevailing tax rates and reliefs are dependent on your individual circumstances and are subject to change. This email does not constitute a personal recommendation to invest.

SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choices that SIPPs give you then a SIPP might not be right for you. Please contact us for guidance or advice if you are unsure whether a SIPP is right for you.

*Before transferring pensions, you should ask yourself: Will I be charged or penalised by my existing provider for transferring? Will I lose any valuable features or benefits if I transfer? Have I considered my current pension charges, and could consolidating be more expensive? Am I part of an occupational final salary pension scheme? (In which case I would most likely be better off not switching).

**Please note, if you decide to leave Bestinvest, exit fees may apply.