Kevin Brown, savings specialist at Scottish Friendly commented on today’s announcement by the Government to increase Capital Gains Tax
“Using tax-efficient wrappers such as Individual Savings Accounts (ISAs) and Junior ISAs (JISAs), and as much of your annual allowance as you can afford each year, is, after pensions, an accessible way to make the most of savings for the majority of UK households.
Alongside pension wrappers, ISAs and JISAs shield your investments from capital gains tax (CGT). So, with the changes announced to CGT by the Chancellor today, where CGT on shares is set to increase from 10% to 18% at the lower rate and from 20% to 24% at the higher rate, stocks and shares ISAs and JISAs just became a whole lot more attractive.
“Here’s hoping the attention these changes get in the media over the coming days and weeks doesn’t spook people into inaction – putting aside even just a little money each month can build a solid financial buffer for whatever life throws at us. Doing so tax-efficiently can help to ensure your hard-earned money works equally hard for you in return.”
Contact for more information:
Kevin Brown, PR & Communications, Scottish Friendly
07512194336
Editors notes:
About Scottish Friendly
Scottish Friendly is a leading UK mutual life and investments organisation. It provides investors and their families with a wide range of investment and protection solutions and provides life and investment products and services to other financial organisations.
Scottish Friendly has roots stretching back to 1862. Established as the City of Glasgow Friendly Society, its name changed in October 1992 when it took over Scottish Friendly Assurance.
The Group has flourished through a three-part growth strategy of organic growth, mergers and acquisitions, and business process outsourcing.
Scottish Friendly, Galbraith House, 16 Blythswood Square, Glasgow, G2 4HJ
Scottish Friendly Assurance Society Limited. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Scottish Friendly Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority.