Feb 6 2008
The new rules relating to the use of individual savings accounts (Isas) in the UK that are set to be introduced in April have been explained by JPMorgan Asset Management.
Under the terms of the reformed regulations, people saving for children or for any other purpose will be able to allocate their Isa assets into cash-based accounts or stock-based equivalents however they see fit.
Furthermore, the tax-free allowances available to all British savers through Isas are to be increased to £7,200 for individuals and to £14,400 for couples, JPMorgan has indicated.
In light of the forthcoming changes to the way Isas operate in the UK, the financial services firm has launched a guide designed to communicate clearly how the reforms might impact investors.
"We hope that it will answer some of those questions on investors’ lips as they look to make their investment decisions for this coming tax year," said Campbell Fleming, managing director and head of JPMorgan Asset Management in the UK.
Moneyfacts.co.uk claimed recently that the battle to secure Isa customers before the end of the current tax-year is well underway among financial services firms around the country.
