Skip to main content

Lloyds TSB explains the changes on Isa over-50 limits

 

More than 21 million savers who are 50 years old and over will soon be eligible to benefit from an increased tax free ISA allowance. Research from Lloyds TSB, however, reveals that nearly two thirds (61%) of over 50s surveyed do not understand the approaching ISA changes.

As part of this year's budget, the Chancellor announced that the total ISA limit would increase from £7,200 to £10,200, £5,100 of which can be saved in cash. For those born on or before 5 April 1960 the new limits come into effect on October 6th 2009, whilst younger customers will need to wait until the start of the 2010/2011 tax year next April.

How will the changes affect me?

Lloyds TSB have teamed up with This is Money to explain the changes to the ISA allowance.

Click here to download a guide , written by This is Money's savings expert, Alan O'Sullivan.

How will Lloyds TSB customers benefit from the change?

Lloyds TSB customers can take full advantage of the increased limits, as the Group has confirmed that all of its ISA products will accept top ups when the new rules come into effect on 6th October.

Colin Walsh, Managing Director of Savings and Investment, Lloyds Banking Group commented: 'As the UK's largest ISA provider, we want our customers to be able to reap the benefits of the new rules and make use of their entitlement. This historic low rate environment has meant a challenging time for savers, especially for those who rely on returns to supplement their monthly income, so maximising your full tax free allowance has never been more important.'

Savers who haven't used their full annual allowance will be able to top up their existing balance for both cash and investment ISAs before the end of the tax year. Customers who are aged 50 or over can take advantage of the new entitlement and open one of the competitive products offered by Lloyds TSB.

Other improvements that Lloyds TSB customers can look forward to include electronic transfers for the cash ISA market, allowing customers to invest in their cash ISA quickly and efficiently.

Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Thinking for Study Abroad USA. School of Charleston, the wonderful grounds is situated in the actual middle of a verifiable city - Charleston. Get snatched up by the wonderful and customary engineering, beautiful pathways, or look at the advanced steel and glass building which houses the School of Business. The grounds additionally gives students simple admittance to a few major tech organizations like Amazon's CreateSpace, Google, TwitPic, and so on. The school offers students nearby as well as off-grounds convenience going from completely outfitted home lobbies to memorable homes. It is prepared to offer different types of assistance and facilities like clubs, associations, sporting exercises, support administrations, etc. To put it plainly, the school grounds is rising with energy and there will never be a dull second for students at the College of Charleston. Concentrate on Abroad USA is improving and remunerating for your future. The energetic grounds likewise houses various

Best MBA Online Colleges in the USA

“Opportunities never open, instead we create them for us”. Beginning with this amazing saying, let’s unbox today’s knowledge. Love Business and marketing? Want to make a high-paid career in business administration? Well, if yes, then mate, we have got you something amazing to do!   We all imagine an effortless future with a cozy house and a laptop. Well, well! You can make this happen. Today, with this guide, we will be exploring some of the top-notch online MBA universities and institutes in the USA. Let’s get started! Why learn Online MBA from the USA? Access to More Options This online era has given a second chance to children who want to reflect on their careers while managing their hectic schedules. In this, the internet has played a very crucial in rejuvenating schools, institutes, and colleges to give the best education to students across the globe. Graduating with Less Debt Regular classes from high reputed institutes often charge heavy tuition fees. However onl

Sickening moment maskless 'Karen' COUGHS in the face of grocery store customer, then claims she doesn't have to wear a mask because she 'isn't sick'

A woman was captured on camera following a customer through a supermarket as she coughs on her after claiming she does not need a mask because she is not sick.  Video of the incident, which has garnered hundreds of thousands of views on Twitter alone, allegedly took place in a Su per Saver in Lincoln, Nebraska according to Twitter user @davenewworld_2. In it, an unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of the customer recording her. Scroll down for video An unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of a woman recording her A woman was captured on camera following a customer as she coughs on her in a supermarket without a mask on claiming she does not need one because she is not sick @chaiteabugz #karen #covid #karens #karensgonewild #karensalert #masks we were just wearing a mask at the store. ¿ o