IMA calls for £9,600 ISA limit

In its pre-Budget wish-list, the trade body says inflationary increases since the introduction of the ISA should be reflected in the vehicle’s yearly limit – thus encouraging further savings and “wise” retirement management. For the 2008/9 tax year, cash and shares ISAs have a £7,200 total subscription limit. The IMA has also lobbied for a non-discriminatory treatment of offshore investment and a predictable and simplified tax environment. It wants the government to abolish the fund specific SDRT regime and to resolve the VAT implications of offshore funds. The IMA says the SDRT regime ...