So with the new tax year coming into play tomorrow (6th April 2015) there is an increase in the ISA allowance. The previous allowance was set at £15,000 for the tax year 2014/15 (although it was only increased to this level on 1st July 2014) and this is being increased to £15,240 for the tax year 2015/16.
The allowance is for all ISAs, whether they be for cash or for shares so make sure you are not over paying into separate ISA accounts.
Also don’t forget that you can’t carry over any of your unused ISA allowance so unless you can find someone who is open today (Easter Sunday) to take any extra payment for 2014/15 then you are probably too late.
There are also new rules being introduced in the autumn where savers will be able to replace money that is withdrawn from an ISA, as long as this happens in the same year – more to come on this when further details are available.