Moneyspider Articles

The ISA is here to stay - so make the most of your tax saving opportunities

The announcement by the Government last year that ISAs will be 'a permanent feature of the savings landscape' will, with luck, be the last time the government tinkers with the ISA rules. Personal Equity Plans will very sensibly be brought within the ISA wrapper. 

The introduction of ISAs was certainly not justifiable on the grounds of simplicity - what with maxi, mini, cash and insurance-linked accounts, all with several different limits. 

The really positive news about the government's announcement is that by extending the ISA deadline beyond 2010, investors will be given the long-term confidence to save and the fact that ISA income need not be declared on your tax return is also one less administrative hassle to contend with. 

So where should you put this year's ISA allowance?  With so many funds clamouring for your hard earned money that's a difficult question to answer. 

Bill Ross, Managing Director of Moneyspider, explained: 'As well as taking advantage of the tax-savings opportunities offered by investing in an ISA every year, investors should never lose sight of the need to constantly monitor how their existing funds are performing. There won't be any tax to be saved unless these investments are growing in value!' 

Moneyspider.com enables you to see at a glance how your ISAs, PEPs and Unit Trusts are performing; what they're worth; how they're rated and crucially how they compare with other funds.  Something your Fund Manager will never tell you!

Unique performing rating

Moneyspider.com's highly sophisticated but easy to understand performance rating system covers 2,000+ Unit Trusts and OEICs (including ISAs and PEPs) available to UK investors. You must already have one or more of these funds to be eligible for the Moneyspider service which will then provide you with a personal online report and valuation, updated daily, showing how each of their funds has performed over 1, 3 and 5 years. Moneyspider.com also provides a comparison with other funds and each of your funds will receive the unique Moneyspider Rating ranging from A for 'Excellent' to E for 'Awful'!