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Four Isa tax savings

TAX TIP: Isas can do more than protect against income and capital gains tax

Sales of stocks and shares individual savings accounts (Isas) were up 13 per cent in the 2010-11 tax year, with the average subscription up 11 per cent to £4,627, according to HM Revenue & Customs . This may be due to the fact that increases in Isa allowances have enabled investors to shelter more of their money from tax.

The annual Isa subscription limit is now £10,680 per person per tax year, of which £5,340 can be in cash. If you haven't yet been converted to Isas or need a refresher, here is a summary of what an Isa can do for you:

1. No personal tax on Isa income

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