There are some big changes to ISA limits in the 2014/15 tax year. In particular ISAs will change with effect from 1 July 2014 both in the amount you can save and the way you can save it.
So in general the ISA limit from 6 April 2014 is that you can pay £5,940 into a cash ISA and the total amount you can pay into both stocks and shares, and your cash ISA is £11,800.
Then on 1 July 2014 the name will change to a New Individual Savings Account (NISA) and the combined limit on cash and stocks and shares NISAs is £15,000 – this amount includes any money that you have paid into your old ISAs after 6 April 2014.
All old ISAs will be renamed NISAs from 1 July but cash and stocks and shares can be held within the same NISA.
As March comes around again it is the time to start thinking about whether you need to top up your ISA to make the most of the tax free allowances that are available. Continue reading Time to Top Up the ISA →
So there is only one day left for the 2011/12 tax year and this means that many people will be making sure that they have used up their personal allowances in terms of savings and investments. The government sets maximum limits on how much you can put into tax free (ish) saving plans each year and the year runs from 6 April until 5th April. Continue reading Last Chance For 2011/12 ISA →
As it is approaching the end of the tax year many people are thinking about whether they can afford to top up their ISA with the maximum amount that they are allowed to pay into it for the tax year. ISAs are split between two types – cash ISAs and equity ISAs. ISAs are a simple means of saving without paying tax. Continue reading ISA Allowances 2011-12 →
Information About UK Tax Rates
