Savings & Investments The deadline for u

Savings & Investments

The deadline for using all of your tax efficient saving and investment allowances is 5 April 2012. Anything you have not used will be lost. Current limits are:

• ISAs – £10,680 into a stocks and shares ISA, £5340 of which can be put into a cash ISA. Please note that you are only allowed one of each type of ISA in one tax year, and while transfers from cash ISAs into stocks and shares ISAs are allowed, you cannot transfer stocks and shares ISAs into cash ISAs.
• Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCTs) – EIS schemes provide 30 per cent tax relief in 2011/12 on investments of up to £500,000. Investments can be carried back by up to one year provided the limit in the previous year was not reached. VCT investments offer tax relief of 30 per cent of the amount invested, with a limit of £200,000 in any tax year.

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