New 2014/15 ISA allowances
ISA changes announced for 2014/15
Significant changes were announced in the 2014 budget that increased the opportunity for investors to benefit from tax free savings:
- From 1 July 2014 investors have an increased allowance of £15,000 into a Stocks and Shares ISA.
- Wider range of investments held such as Alternative Investment Market (AIM) investments and bonds with a maturity less than 5 years.
- Cash can be held in a Stocks & Shares ISA with interest received no longer subject to 20% tax.
- Flexibility to transfer savings between cash and Stocks and Shares (both ways).
- JISAs remain the same but with an increased allowance to £4,000.
If you have already opened an ISA in 2014/15 prior to 1 July you can subscribe to the increased £15,000 allowance in the existing ISA. Our application forms and information on charges can be downloaded here.