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Posted on March 12th, 2007 by James Alliss.
Categories: Tips.
This Blog entry is aimed at those living in the UK only.
It’s ISA Time!
In a matter of weeks you could have lost out on the potential to shelter £7,000 from the Tax Man.
Many people think an ISA is an investment in itself, it is not! It is a tax-efficient wrapper to hold your investments.
If you buy your ISA from a fund company then you could be limited to only buying investments offered by that company, not to mention hefty fees of around 5% which equates to £350 on £7,000.
Buy a Self Select ISA. This means buying the wrapper from a fund supermarket or a stockbroker and then choosing what you want to buy for it. If you go for a fund supermarket Isa (like I did when I started) you will only be able to buy funds. Your best bet would be to buy your wrapper from a broker so that you can not only hold funds run by any provider but also individual shares, bonds or even cash.
I use Barclays Stock Brokers but there are many more companies to choose from. Just do a search on Google.
I hope you found this useful.
James Alliss.
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