New tax year, new allowances
Happy new tax year!
Published on 06 Apr 20193 minute read
Today is the start of the new tax year, which means your 2019/20 tax allowances are ready and waiting for you to use. This year, you can invest:
- £20,000 into an ISA
- £4,368 into a Junior ISA
- Up to £40,000 into a pension
The benefits of starting early
Starting to save early in the tax year means your money will have more time to grow tax-free which could result in higher returns. You’ll also avoid any last-minute rushing next April. We have some of the lowest fees around and plenty of research to help you make all the important decisions.
Get into the savings habit with regular savings
One of the easiest ways to invest is through regular savings. You’ll need to open an account with Bestinvest first and then you can set up regular savings. The money comes out automatically each month so you never have to worry about doing it yourself.
Make your existing investments work harder for you
Choosing the right investments is the key to making your money work harder. If you have investments sitting with other providers, you could transfer them to Bestinvest – we have everything you need to get them working hard for you, so you could have more money in the future.. Having them all under one roof means that you have more control and it might even save you money in provider fees.
Don’t forget the kids
Saving for children is easy. You can set up a Junior ISA and save as much as £4,368 over the tax year. We also have SIPPs for children letting you put away £2,880 over the tax year which is then topped up by the Government by 20% to make it up to £3,600.
Is it time for a conversation with a financial planner?
If you’ve got more complicated finances or you’re reaching retirement, now may be the time to think about having a professional from Tilney take a look at your finances. You can discuss everything from your investments to passing on your money.
Speak to us
If you want to talk to us about anything you’ve read, simply email email@example.com or call us on 020 7189 9999.
The value of your investment can go down as well as up, and you can get back less than you originally invested.
This article does not constitute personal advice. If you are in doubt as to the suitability of a product/investment please contact one of our advisers.
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.
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