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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.

  1. Stakeholder cash and medium term products can be held in your ISA.
  2. Investments in ISAs are free of income tax and capital gains.
  3. Those aged 16-17 can invest up to £5,640
  4. 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.
  5. The income tax credit is restricted to 20%. Capital gains tax deferral relief is also available.
  6. ISA investments can include bonds which are issued by Multilateral Institutions.
  7. Junior ISA first became available on 1 November 2011.