Investment limits for Individual Savings Accounts (ISA’s) increased
Wednesday, March 12th, 2008 at 10:40 am
From 6th April 2008 the amounts that can be invested into ISA’s will increase up to:
- £3,600 per tax year for a cash ISA,
- and up to £7,200 per tax year into a stocks and shares ISA,
subject to an overall limit of £7,200 to both ISA’s in a tax year. This will increase the amount an individual can save without suffering income tax or capital gains tax on their investment.
Tip: As anyone 16 or over can open a cash ISA and earn interest tax free it is well worth older children considering opening an account
