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.
Victoria Street,
St Albans,
Herts,
AL1 3SE
T: 01727 833222
F: 01727 864752
Tavistock Square,
London,
WC1H 9LG
T: 020 7388 2641
F: 020 7387 8969
Copyright © Rayner Essex. All rights reserved. Terms and Conditions. Disclaimer. Rayner Essex is a business name of Rayner Essex LLP, which is a limited liability partnership registered in England under number OC338376, VAT Registration number: 2350 760 81.
Its registered office is at Tavistock House South, Tavistock Square, London WC1H 9LG. Rayner Essex Chartered Accountants are registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. The term partner is used to refer to a member of Rayner Essex LLP