Individuals may contribute the following maximum amounts to an Individual Savings Account. Income and gains arising within an ISA are free of tax.

Components (maximum investments)
1/7/2014 - 5/4/2015
2015/16
2016/17
Overall Investment Limit
£15,000
£15,240
£15,240
Cash (maximum)
n/a
n/a
n/a
Stocks & shares (balance to)
n/a
n/a
n/a
Junior ISA & Child Trust Fund
£4,000
£4,080
£4,080

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.

Junior ISA

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
.