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Do you really need to use your ISA allowance?

Even though Individual Savings Accounts (ISAs) have been with us for some time many people have simply ignored them with many holding a general opinion they are for the more wealthy of society. However, ISAs have a use for each and every person in the UK with a cash ISA allowing you to invest £3,600 in the 2008/9 tax year and a stocks and shares ISA allowing you to invest £7,200 in the same period (less any amount you have invested in a cash ISA). While you need to take professional advice from your financial advisor, not all ISAs are high-risk investments and they were created to allow people to protect their investments from the taxman and increase their returns.

It's also worth reminding ourselves that you do not need to use your full allowance each and every year but if you put away as much as you can on an annual basis and invest sensibly whether this is in cash instruments or stocks and shares you could build up a substantial tax-free investment fund for the future. Those who invest in stocks and shares on a regular basis and do not make use of their ISA allowances are effectively missing out on an ongoing basis and increasing their own tax charge into the future. Is it time that you approached your professional adviser about considering your ISA allowance?