Newspaper article The Journal (Newcastle, England)

Mind the Tax Year End

Newspaper article The Journal (Newcastle, England)

Mind the Tax Year End

Article excerpt

Byline: Roger Versteeg

IT all happens so quickly. Just as the deadline for self-assessment and payment of taxes passed on January 31, the tax year-end is creeping up on us. Are you ready for it or are you amongst the many who will leave things to the last minute? Just a couple of quick pointers for you on the two most common tax breaks.

Remember to use your ISA allowance if you can. It's a matter of use it or lose it, as it cannot be carried forward. Remember you can invest up to pounds 5,100 in a cash deposit ISA. There are some reasonable rates available varying between 3% on a one-year fixed rate and 5% on a four-year fixed rate (Source: Moneyfacts).

Remember to check the rates you are getting on existing ISA investment.

It is easy to switch existing ISA's between providers and in many cases consolidation is a worthwhile exer-cise and makes switching in future years much easier. If you want to switch ISA provider simply talk to the new provider who will sort the transfer out for you. …

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