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