United Kingdom

Details

  • Service: Tax
  • Type: Press release
  • Date: 05/12/2013

Autumn Statement 2013: Who wants to be an ISA millionaire? 

Thursday 5th December 2013

 

Commenting on ISA limits confirmed in today’s Autumn Statement, Daniel Crowther, tax partner at KPMG, said:

 

“Tax exempt individual savings accounts (“ISA”s) have long been used by governments to encourage savers to set money aside each year and as usual the amount that can be contributed into an ISA is being increased.  From 5 April 2014 the annual investment limit will be £11,880. 

 

“Recently we have seen in the press that quite a number of smart investors have grown their ISA pots spectacularly to over £1m and this prompted speculation that the government would cap the amount that could be held in an ISA tax free. 

 

“However there is no sign of this in the Autumn Statement so it seems that the challenge to be the first ISA billionaire is still on!”


-Ends-


Follow us on twitter: @kpmguk #AS2013


www.kpmg.com/uk/autumnstatement

 

For further information please contact:

 

KPMG Press office

Tel:  +44 (0) 207 694 8773

 

Mark Hamilton, KPMG Corporate Communications

 

Mobile: 07785 337672

 

mark.hamilton@kpmg.co.uk

 

About KPMG:

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 



 

 

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Mark Hamilton

Mark Hamilton

Senior PR Manager - Audit, People & Corporate Responsibility

KPMG in the UK

020 7694 2687

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