Savings and Investments

ISAs

Financial Year
2014/15
2013/14
– Total maximum investment£11,880£11,520
– Maximum cash element of ISA£5,940£5,760
Junior ISA investment limit£3,840£3,720
Child value of CFT limit£3,840£3,720
New ISA (NISA) limits  
New ISA (NISA) annual limit from 1 July 2014 to 5 April 2015£15,000 N/A
New Junior ISA investment annual limit from 1 July 2014 to 5 April 2015£4,000 N/A
New child value of CFT annual limit from 1 July 2014 to 5 April 2015£4,000 N/A
Between 6 April and 30 June 2014 the total amount you can pay into a cash ISA is £5,940, any amounts that you have paid into your ISA between 6 April 2014 and 30 June 2014 will count against your £15,000 NISA limit for 2014/15

 

Notes

  1. Investments in ISAs are free of income tax and capital gains tax.
  2. Those aged 16-17 can invest in a cash ISA.
  3. 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.
  4. The annual investment limit for a Junior ISA is £3,600.