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New 2014/15 ISA allowances

October 22nd 2014

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.