Budget 2009
As many of you will be aware, the 2009 Budget was delivered by Alistair Darling on Wednesday 22nd April. There were some changes which will be of special interest to clients of Chelsea Financial Services.
The main change is the increase in the ISA allowance. From October 6th 2009, clients aged 50 or over will have their ISA limit for the 2009/10 tax year increased from £7200 (up to £3600 in cash) to £10,200 (up to £5100 in cash).
This enhanced limit will be made available to all ISA-eligible investors for the 2010/11 tax year, commencing on April 6th 2010.
In respect of Venture Capital Trusts (VCTs) there was a small technical change to the rules which was only of interest to the VCT fund managers but there was no alteration to the investment limit of £200,000 or level of income tax relief which remains at 30% for the 2009/10 tax year.
If you have any questions on these changes, please contact us on 020 7384 7300.
Chelsea Financial Services plc is authorised and regulated by the Financial Services Authority and offers an execution-only service. We give no individual investment advice and act only on instructions received. For further information, please read our Terms and Conditions and the important notice below.
Important Notice
Past performance is not necessarily a guide to the future. The value of investments and the income from them can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. All products purchased through Chelsea Financial Services should be regarded as medium to long-term investments. Chelsea Financial Services offers an execution-only service. If you require investment advice you should contact an expert adviser. Tax assumptions are subject to statutory change and the value of tax relief (if any) will depend upon your individual circumstances.
The information on this site is intended solely for the use of those people who are United Kingdom residents for tax and investment purposes. It is not for distribution in any other jurisdiction, including the United States of America. Anyone who is not a UK resident should not continue with this site unless wishing to read about personal finances available to UK residents for informational purposes only.
© 2011 Chelsea Financial Services plc All Rights Reserved. Comments about this site to info@chelseafs.co.uk
