2013/14
ISA Limits
For the 2013/14 tax year, your total ISA allowance is £11,520.
Up to half of this, £5,760, can be invested in a Cash ISA with the rest being invested in a Stocks and Shares ISA.
Or, you could choose to invest the full £11,520 in a Stock and Shares ISA
ISA stands for Individual Savings Account. There are two types of ISA: Cash ISAs and Stocks and Shares ISAs.
Cash ISAs are just like conventional savings accounts — the only difference is the interest you earn isn’t taxed, so you get to keep all of it.
Stocks and Shares ISAs, as the name suggests, invest your money in the stock market. They have the potential for higher returns than a Cash ISA, but should be considered higher risk.
Remember, the value of your investment can go down as well as up and you may not get back the amount you invest.
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Transferring to us
Make managing your ISAs easier by bringing them all together.
With both Cash and Stocks and Shares ISAs you won’t pay tax on any of the income you earn.
Basic rate taxpayers normally hand over 20% of their savings income to the taxman, higher rate taxpayers pay 40% — but with an ISA, you get to keep all of it.
For the current tax year, 2013/14, you can invest a total of £11,520 in an ISA.
Up to half of this can be invested in a Cash ISA with the rest in a Stocks and Shares ISA.
Choosing how you’d like to invest is entirely up to you. But what are the differences?
