As from today, anyone over the age of 50 will be able to save an extra £3,000 free of income tax in an Individual Savings Account (Isa).
The change, announced in this year’s budget, benefits anyone born on or before 5 April 1960.
It means that the amount anyone in their Third Age can save in an Isa has increased from £7,200 to £10,200. Of this, half can be saved in stocks and shares and half in cash as previously.
Written by Editor.
