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Suffering from ISA Neglect?

Figures released by HMRC have revealed that in the 2015/16 tax year 12.7 million people subscribed to an ISA. As in the previous year around 80% of investments were made into cash ISAs with the remainder going for Stocks & Share accounts.

The average ISA investment in 2015/16 was £6,307 against a limit of £15,240. The statistics also provide a big hats-off to the West Country which leads the way in ISA take-up with 48% of all adults holding an ISA, against a UK average of 42%.

Those saving into an ISA in the current tax year can benefit from an increased limit of £20,000. But whilst you are pondering the most appropriate investment choice/choices for your new ISA, it can be all too easy to neglect your older investments. The markets may have moved on, your personal circumstances may have changed and investment choices which may have been appropriate a few years ago may not be right for you now.

Best advice recommends reviewing ISAs and other investments on a regular basis in order to ensure they have the best chance of meeting current and future requirements. If you’re looking for pensions or investment advice, or if your situation has changed and you may therefore need to review your existing investments, contact Beckworth by using one of the links on our website.