Only days left to use ISA allowance before tax year ends

Investors have only a few days left to use up the tax-free allowance they can pay into an ISA with financial services provider, Alliance Trust Savings, that gives them all-year-round value for money and saves them tax.

PEP and ISA Manager Malcolm Dodds said, “Unlike many other providers, Alliance Trust does not charge you set-up fees nor an annual administration fee to hold your ISA, so you only pay for what you ask us to do. We think our dealing charges are competitive too, with our new online service offering you a flat rate of £12.50 for any trade online and a choice of around 1,500 investments.”

“Each tax year, you are allowed to invest up to £7,000 tax-free into stocks and shares ISAs so it makes good sense to take advantage of this if you are able to save. If you already have a cash ISA you can still invest up to £4,000 in a mini stocks and shares ISA. However, you will have to hurry because there’s not much time left till the end of the tax year,” he said.

Online customers can take advantage of a special offer available at the moment from Alliance Trust’s innovative new dealing service. If they invest online before the end of the tax year they will get their second trade free* as long as they make the second trade online before April 30. All customers can also invest in two new OEICs, the Premier Alliance Trust Asia Pacific and Japan Equity Funds, which are available through Alliance Trust Savings with no initial charge and a preferential annual management charge of just 0.75%, a rate normally only available to institutional investors.

The deadlines for new customers to Alliance Trust ISAs are:

New online customers should apply online by 28 March and must subscribe to their ISA by 5 April

By post, if an investor is acting on advice from a financial adviser -- which means a cooling off period applies -- they must apply by 28 March
Final deadline for ISA applications and subscriptions by post, if no cooling off period applies, is 5 April

*Investors will see the charge of £12.50 when they make a second trade. This will be refunded by midnight on the same day of the second trade. All further trades will be charged as normal. This offer does not apply to OEICs and unit trusts where you pay £15 for a purchase and £30 for a sale through our online investment dealing service.

ISAs are medium to long-term investments. The value of your investment may go down as well as up and you may not get back the amount of money invested. Taxation may change in the future. Current tax advantages may change and could be withdrawn; tax rates and reliefs may change and depend on your individual circumstances. Alliance Trust Savings’ charges and/or expenses may change in the future.