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Why use an ISA for retirement planning

The tax regime inside an ISA is similar to that of a pension plan. The two main differences are that you don't receive tax relief on any ISA contributions and therefore in order to fulfil your annual ISA allowance you have to stump up the whole £15,000 [2014/15 tax year]. On the plus side you are able to access all of the funds along with the growth as a tax free lump sum to do with what you want.

Under current rules you would be able to cash in your ISA and still gain the tax relief associated with a pension contribution in the future. It should be noted that this may be subject to changes in the current pension contribution rules.

Alternatively you are able to build your ISA portfolio with the view of changing the investment strategy from capital appreciation to income producing when you need income. This can be at any time that you need to start drawing an income; you don't have to wait until age 55, like a pension. Interest income produced by corporate bonds and Gilts are free of income tax.


Inside an ISA

Inside an ISA you can invest in cash, equities, corporate bonds, UK Government Gilts and collective funds such as ETFs, OEICs and Investment Trusts.

Through your ISA account with Raymond James Investment Services, you can consolidate a number of ISAs from different providers to build your own diverse portfolio including any of the above types of investments. You will be able to view your investments inside your ISA on the Raymond James Investor Access system.

Contact us If you would like to start building an ISA portfolio or wish to look at consolidation of your ISAs to create a coordinated investment strategy.

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