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Welcome to Bird Luckin

Leading independent chartered accountants and tax specialists in the City of Chelmsford, Essex only 30 minutes from London with convenient road and rail links to all London airports, particularly Stansted and Southend.

ISAs: Have you made the most of your allowance?

With the end of the financial year approaching, investors have less than a week to make the most of their annual tax-efficient Individual Savings Account (ISA) allowance.

Currently, savers are able to invest up to £10,680, of which no more than £5,340 can be invested in cash, and receive any income tax free. Alternatively, the full £10,680 ISA annual limit can be invested into a stocks and shares ISA.

The deadline for the current ISA allowance is the end of the financial year on 5 April.

Figures from the Office of National Statistics (ONS) released at the end of February revealed that Britons invested more into stocks and shares ISAs (£15.837 billion) than personal pensions (£14.28 billion) in 2010/11 - the first time investment into ISA's has overtaken personal pensions since 2001/2.

Billy Mackay, marketing director of AJ Bell, said: "These figures show that pension saving had already been falling even before the Government limited the amount that can be saved into a pension from the start of the current tax year."

Economic and political uncertainties were also cited as reasons for the increased popularity of ISAs.

The ISA limit for the 2012/13 tax year beginning on 6 April will increase to £11,280, of which a maximum £5,640 can be invested in cash. The remaining £5,640 can be invested into a stocks and shares ISA with either the same or a different provider.