the Association of Chartered Certified Accountants

10 Top Tax Tips

Whatever the Chancellor’s red box reveals on 22nd June in the Emergency Budget, Chas Roy-Chowdhury, head of taxation from ACCA (the Association of Chartered Certified Accountants) has ten non-taxing tax tips to legitimately lighten the load. 1. Be ISA-wise On 6 April 2010, the annual Individual Savings Account (ISA) subscription limit rose to £10,200. The whole sum can be placed in a stocks and shares ISA, or alternatively, up to half can be put into a cash ISA, and the remainder into a stocks and shares ISA. “For a couple, this represents £20,400 savings protected from capital gains or income tax,” says Chas Roy-Chowdhury, ACCA Head of Taxation. “So even though interest rates aren’t as good as they have been, ISAs are still a worthwhile investment... »