The Share Centre to accept ISA top-ups

The Share Centre has confirmed it will be ready to accept ISA top-ups from investors over the age of 50 from Tuesday 6 October. The stockbroker is also urging investors to make the most of their ISA allowance, given low interest rates.

In the April budget, the government introduced new tax rules for ISAs. From 6 October 2009, anyone aged 50 or over by 5 April 2010 will see the ISA limit increase from £7,200 to £10,200; a rise of more than 40 per cent.

Commenting on the new ISA rules, Andy Parsons, Advice team manager at The Share Centre, said: "We know that tax-free savings are important to our customers, particularly with interest rates at historic lows, which is why we will be accepting top-ups from those wishing to take advantage of this additional allowance.

"It is imperative investors make the most of the new rules and shelter what they can from the taxman. The ISA changes mean seasoned investors will be able to invest an extra £3,000 into a Stocks & Shares ISA. Those unable to top-up through their current provider should probably consider transferring to another provider, as long as there are no penalties for doing so, to ensure they don't miss out."

The Share Centre offers two types of ISAs for investments, a DIY Stocks & Shares ISA, enabling investors to access a wide range of ISA eligible investments, or a Funds ISA, boasting no administration fee. The Share Centre will also cover up to £300 in transfer costs.