may contribute the following maximum amounts to an Individual Savings Account.
Income and gains arising within an ISA are free of tax.
& shares (balance to)
ISA & Child Trust Fund
The New ISA
From 1 July 2014, ISAs will be reformed into the 'New ISA' (NISA). From that date
all existing ISAs will become NISAs, and the overall annual subscription limit
for these accounts will be increased to £15,240 for 2015/16.
The NISA will offer you the option to save your whole NISA allowance of £15,240
in cash, stocks and shares, or any combination of the two.
There will be changes to the rules on the investments that can be held in a NISA,
so that a broader range of securities, including certain bonds with less than
five years before maturity, can be invested.
From 1 July 2014, the amount that can be subscribed to a child's Junior ISA or
Child Trust Fund (CTF) in 2015/16 was increased to £4,080.