ISAs - 30 March 2010
ISAs
ISAs - 30 March 2010
Subscription limits for ISAs are as follows:
| Individual Savings Accounts (ISAs) |
2013/14 |
2012/13 |
| Overall investment limit |
£11,520 |
£11,280 |
| Including cash maximum of |
£5,760 |
£5,640 |
| Junior ISA |
£3,720 |
£3,600 |
The ISA limit will be increased annually based on the CPI index rounded to the nearest £120.
Notes.
- ISAs are available to those 18 and over.
- Junior ISAs are available to those 17 and under
- Stakeholder cash and medium term products can be held in your ISA.
- Investments in ISAs are free of income tax and capital gains.
- ISAs allow you to take your money out at any time without losing tax relief and furthermore you are not required to declare income and capital gains from ISA savings.
- The income tax credit is restricted to 20%. Capital gains tax deferral relief is also available.
- ISA investments can include bonds which are issued by Multilateral Institutions.
- Child Trust Fund investment limit is £3,720. It is proposed to make arrangements for Child Trust Fund balances to be transferred into a Junior ISA.
