The savings industry has given a mixed reaction to news announced in Budget 2010 that from April next year Individual Savings Account (ISA) limits will automatically increase in line with inflation.<\/p>\n
Since October last year savers aged over 50 have been able to put up to \u00a310,200 a year in the tax-free savings wrapper, \u00a35,100 of which can be held in cash, and, as announced in last year\u2019s Budget, this will come into effect for everybody from 5 April this year.<\/p>\n
From 6 April 2010 the annual ISA is \u00a310,200. Investors can put all of this money into a stocks and shares ISA. Alternatively they can put up to \u00a35,100 (previously \u00a33,600) into a cash ISA, with the remainder available for stocks and shares.<\/p>\n
The main rate of capital gains tax (CGT) remained unchanged at 18 per cent. However, the CGT exemption allowance is being frozen at \u00a310,100 for 2010\/11. In addition, the Chancellor said that he was doubling the level of Entrepreneurs\u2019 Relief from \u00a31 to \u00a32 million.<\/p>\n
Entrepreneurs\u2019 Relief allows those selling businesses they started up to have up to \u00a31 million of gains over a lifetime taxed at a lower rate of 10 per cent.<\/p>\n
The Chancellor announced he was freezing the threshold for inheritance tax (IHT) at \u00a3325,000 for another four years.<\/p>\n","protected":false},"excerpt":{"rendered":"
In brief The savings industry has given a mixed reaction to news announced in Budget 2010 that from April next year Individual Savings Account (ISA) limits will automatically increase in line with inflation. Since October last year savers aged over 50 have been able to put up to \u00a310,200 a year in the tax-free savings… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/777"}],"collection":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=777"}],"version-history":[{"count":0,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/777\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}