ISA Limits 2011-12
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New ISA Limits from 6th April 2011From 6 April 2011 the annual Individual Savings Account (ISA) subscription limits will be increased each year by the Retail Prices Index (RPI). This was announced by the previous government and confirmed by the current Government in the June 2010 Budget. The maximum ISA subscription for 2011/12 will be £10,680 HMRC states that the limits for tax year 2011/12 will be:
The new limit is calculated by reference to the RPI figure for the September before the start of the new tax year. The RPI for September 2010 was 4.6%. Indexation of the ISA limits will have effect on and after 6 April of each year. The increased limit will be rounded to the nearest multiple of £120, so that individuals who save monthly will be able to calculate their monthly savings more easily. If RPI is negative, the limits will remain unchanged. If you would like to discuss investing in an ISA please click here to contact us and we can put you in touch with an Adviser. Alternatively give us a call on 01246 810004 |
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Source - HMRC ISA Bulletin 26
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