On 27 May, there was clarification on Mr. Darling's confusing announcement in his Budget recently about the increase to the ISA limits. The rules have been amended so that a qualifying investor aged 50 or over on 5 April 2010 can invest up to £10,200 - from 6 October 2009. In other words, if you reach age 50 at any time in tax year 2009/10 you can subscribe up to £10,200 on or after 6 October 2009. This is of course the maximum amount for 2009/10. So if you have already got £7,200 in, you have an extra £3,000.
Why oh why do they see the need to make things needlessly complicated? Why not just increase to £10,200 from 6th April for everyone? Come to that, what about a nice round number like £10,000 or £10,500 - where did the '£200' chappy come from? Anyway, it's still sunny so I'm off to sit in the garden with a Stella.
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