Know your Isa limitations

As this year's Isa hunting season comes to its end, it may be worth checking that you have not bagge...

As this year's Isa hunting season comes to its end, it may be worth checking that you have not bagged more than your legally allowed quota of tax efficient investments this tax year. The rules are complex, and many people have found they have bought either a mix of Isas that overstep their £7,000 annual quota or have bought the wrong mix of Isa products. Committing both errors may cause the Inland Revenue to exclude the offending amount invested from its tax advantaged status, exposing the unwitting investor to potentially heavy retrospective gains. The basics Isas come in three forms: ...