ISAs
Investment maximums for ISAs are as follows:
| Individual Savings Accounts (ISAs) |
2012/13 |
2011/12 |
| Overall investment limit |
£11,280 |
£10,680 |
| Including cash maximum of |
£5,640 |
£5,340 |
| Junior ISA |
£3,600 |
£3,600 |
The ISA limit will be increased annually based on the CPI index rounded to the nearest £120.
Notes.
- Stakeholder cash and medium term products can be held in your ISA.
- Investments in ISAs are free of income tax and capital gains.
- Those aged 16-17 can invest up to £5,640
- 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 income tax credit is restricted to 20%. Capital gains tax deferral relief is also available.
- ISA investments can include bonds which are issued by Multilateral Institutions.
- Junior ISA first became available on 1 November 2011.
