Money News
The clock is ticking for investors who have yet to use their individual savings account (ISA) allowance for the 2006-2007 tax year. Too many investors will wait until the last minute to find a home for their ISA, but for many investment companies this could be too late.
While the deadline for your investments on paper is the end of the tax year, 5 April (and some institutions make great play of accepting applications right up until midnight), in practice it is much sooner. In fact, for several fund management groups, the investment deadline comes before the end of this month on 28 or 29 March, if a "cooling off" period is applicable.
Annabel Brodie-Smith of the Association of Investment Companies said, "With just under a month to go until the 5 April deadline, investors may think they have plenty of time to make their ISA purchases. Whilst it's easy to leave things to the last minute, investors should be aware that many investment companies have deadlines well before then, so it's important to act now to avoid disappointment."
16 March 2007 © Moneyextra.com
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