Farnborough, United Kingdom (PRWEB UK) 30 July 2014
From 1 July all ISA accounts become NISAs reports Mike Morris, Technical Manager at Origen Financial Services. This applies equally to any new accounts subscribed to and any existing accounts. Mike details the key changes below:
“The NISA will reduce confusion on the amounts which can be saved in cash or stocks and shares, and more importantly giving people more flexibility to earn tax-free interest” Mike Morris.
The ISA allowance is set by tax year and is normally reviewed each year by the Chancellor. The NISA was launched 1 July to allow providers time to accommodate the new rules which were only announced in the March Budget. If savers have made any payments since 6 April 2014, these will simply be offset against the new £15,000 allowance.
Mike Morris highlights that fact that any savings within a NISA are free from Income Tax or Capital Gains Tax, so these should form an essential part of any individuals financial planning.
Origen Financial Services
Origen Financial Services is one of the UK’s leading financial advisers. An advice-led business focussed on building strong partnerships with clients and providing financial advice to private clients, small to medium sized businesses and employees of some of the UK’s largest organisations. Origen Financial Services is part of the Aegon Group.
In the UK, Aegon offers pensions, life insurance, asset management and financial advice to around 2 million customers, has assets under administration of £53.6bn, employs around 3000 employees and is a FTSE 4good listed company.
As an international life insurance, pensions and asset management company based in The Hague, Aegon has businesses in over twenty markets in the Americas, Europe and Asia. Aegon companies employ approximately 25,800 people and have millions of customers across the globe as of 31 March 2013.
Aegon is the Lead Partner of British Tennis.