Individual Savings Accounts
Individual savings accounts allowance (ISA limit 2011)
The annual individual savings allowance has changed.
The new annual ISA limit is now £10,680 with the deadline to use the 2011/2012 ISA allowance being 5th April 2012.
Each year the ISA Allowance is set by the government and any changes in ISA limits are announced in the budget speech. New ISA limits have been introduced which increase the overall ISA allowance to £10680
.
Please see ISA Allowances table below for details.
Mini & Maxi ISA allowances, the new ISA rules
In order to simplify the ISA Structure, the distinction between Mini & Maxi ISA's has disappeared. Nowadays there's only a distinction between a Cash ISA and a Stocks & Shares ISA. This means an ISA can now contain up to 2 different types of investment: - cash (including national savings plans) and stocks and shares.
ISA investment growth does not normally incur a tax liability which means ISAs tend to be a very popular & tax efficient method of saving. ISAs are flexible because they allow both lump sum investments as well as regular fixed contributions.
Both Cash ISAs and Stocks & Shares ISAs are open to anyone over 18, resident and ordinarily resident in the UK. Anyone over 16 can have a cash ISA.
ISA allowances & limits
The limit for a cash ISA is now £5340 for and the limit for a Stocks & Shares ISA is £10680. The overall combined ISA allowance is £10680.
Old ISA Allowance (2010/2011)
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Cash ISA Allowance
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£5100
|
|
Stocks & Shares ISA Allowance
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£10200
|
|
Overall Allowance
|
£10200
|
New ISA Allowance (2011/2012)
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Cash ISA Allowance
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£5340
|
|
Stocks & Shares ISA Allowance
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£10680
|
|
Overall Allowance
|
£10680
|
If you wish to invest in a stocks and shares ISA without any advice from ourselves then please follow the link below to our Direct ISA Investment site.
ISA Application
If however you would like a call back from one of our expert advisers then please complete the following form and we will contact you within 24 hours.
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