The Budget was full of some unexpected good news for pensioners and savers, as Stone Rowe Brewer LLP Partner Pauline Lawson explains.
“Whilst we await the details of the new rules on accessing pension savings, each of us can increase our investment in ISA’s from £11,800 to £15,000 from 1st July 2014.
They will now be called NISA – New Individual Savings Accounts – and you can hold any mix or cash and shares. The Junior ISA limits will also increase from £3,840 to £4,000.
Additionally, the maximum holding of Premium Bonds increases from £30,000 to £40,000 on 1st June 2014 and it will rise again to £50,000, in 2015-16.
Time to spring clean your investment strategy.”
If you have any questions regarding how this week’s Budget affects your finances, please call Pauline Lawson on 020 891 6141 or e-mail email@example.com