ISA rules and limits
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The Government offers generous tax breaks to encourage you to save. Amongst the most generous are ISAs. Any UK resident aged 18 or over (16 for cash ISAs) can invest. Within an ISA you pay no capital gains tax and no further tax on income. You don't even need to declare ISAs on your tax return.
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Until 5th April 2011
The ISA limit is up to £10,200:
- Invest up to £10,200 in a stocks and shares ISA or
- Invest up to £5,100 in a cash ISA and up to £5,100 in a stocks and shares ISA
- Don’t forget you can now transfer cash ISA’s to stocks and shares ISA’s as well!
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From 6th April 2011
The ISA limit increases to £10,680:
- Invest up to 100% of your allowance in a stocks and shares ISA, or...
- Invest up to 50% of your allowance in a cash ISA and up to 50% in a stocks and shares ISA
- You can also transfer cash ISA’s to stocks and shares ISA’s, but note you cannot transfer the other way.
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Levels and bases of reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor. |
The value of your investment can go down as well as up. Please therefore ensure that you understand
the risks. If you are at all unsure about the suitability of an investment please contact us for advice.
The information provided on this website does not constitute financial advice. All tips & suggestions are followed at your own risk & should be supported with your own research.
The Financial Services Authority does not regulate taxation advice.
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