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September 23, 2009

Brewin Dolphin criticise ISA age change limit

by Richard Kilner

Story link: Brewin Dolphin criticise ISA age change limit

Investment bank Brewin Dolphin has criticised measures in the Budget which amend and complicate the rules on ISAs.

The overall annual ISA limit has been raised from £7,200 to £10,200, with £5,100 available for a Cash ISA or the full £10,200 for a Stocks and Shares ISA.

However, Brewin Dolphin has criticised Chancellor Alistair Darling’s decision to make the increased limit only applicable for this tax year for those who will be 50 years old by 5th April 2010.

From 6th April 2010 the change applies to everyone 18 or older.

Corporate Affairs Director Charlotte Black has described the age limitation as churlish, and advised those eligible to take advantage of the change.

Black went on to advise people able to do so to increase their ISAs and enjoy the benefits of their tax free status for savings.

 

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