How to shelter £58k from taxman this ISA season

Advisers have been urged to remind clients they could shelter more than £58,000 from the taxman this ISA season.

According to FundsNetwork research, a family of four consisting of a couple with two children could save up to £58,000 from the taxman if they invest the maximum ISA allowance for both the 2011/2012 and 2012/2013 tax years and open junior ISAs for their children.

"For the first time, a family of four is being presented with an opportunity to shelter more than £58,000 from the taxman," said FundsNetwork head of marketing Klare Baldwin.

"Advisers will already know that making the most of any form of tax allowance is an absolute must, but in the current environment clients may be less willing to part with their hard-earned cash."

To help advisers with ISA fund selection, the platform has once again teamed up with OBSR to provide a shortlist of 16 funds with four different risk categories.

Advisers can also use Fidelity multi-asset funds from the FundsNetwork Navigator service in addition to the platform's Fund Evaluator tool when making investment selections.