NISAs are much nicer, says Derbyshire financial planner
18 June 2014
A Derbyshire financial planner is urging people to take advantage of the new ISA savings limit which will increase to £15,000 from July 1.
Jillian Thomas, managing director of Future Life Wealth Management, which is based in Renishaw, said the change to Individual Savings Accounts, which will now be known as New ISAs, or NISAs, was welcome. The limit on current ISAs will also automatically increase to £15,000.
“This means people will be able to save nearly three times as much in a tax-free account per year. Before this change savers could put away £5,940 in cash and the same again in stocks and shares.
“Now you will be able to put £15,000 away – and it can all be in cash. This gives people much more flexibility when thinking about where to put their savings – and it is all tax-fee. So the NISA really is a lot nicer.”
Jillian, who is also junior vice president of Sheffield Chamber of Commerce and Industry, added: “We expect the change to trigger a wave of competition from the providers; so we should see some attractive rates on offer over the next few weeks.”
There are other benefits of the NISAs too, said Jillian, such as savers being able to transfer previous years’ funds in stocks and shares ISAs into cash ISAs. The limits on Junior ISAs are also being increased from July 1.
Future Life Wealth Management offers a bespoke financial planning service to generators and receivers of wealth, from business owners and executives to inheritors and retirees.
The company was named among the top 100 financial advisers in the country in 2013 by The New Model Adviser, which recognises firms for their qualifications, income and commitment.
Next year Jillian will take the post of president of Sheffield Chamber of Commerce and Industry, making her only the second woman president of the Chamber in its 160 year history.
Notes to editor
Attached photograph shows Jillian Thomas.
Jillian is available for interview and can be contacted on 01246 435 996 or at Jill@wealthmanagement.uk.com
For more information about Future Life go to www.wealthmanagement.uk.com
Additional media contact: Steph Pollard on 01226 766900 or at firstname.lastname@example.org