Individual Savings Accounts (ISAs)
- Overall investment limit: £10,680
- Including cash maximum of: £5,340
- Investments in ISAs are free of income tax and capital gains.
- Those aged 16-17 can invest in a cash ISA.
- 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.
- 4. A new tax-free Junior ISA will be available from autumn 2011.