You are here: Home - Saving & Banking - News -

New ISA rules to be introduced

Written by:

The revised system for Individual Savings Accounts starts on 6 April 2008, making the tax-efficient vehicles simpler and more flexible.

The overall annual investment limit will increase from £7,000 to £7,200, with the new cash limit of £3,600 up from £3,000.

Angela Eagle MP, exchequer secretary to the Treasury, said: “The Government has introduced this package of reforms to make ISAs simpler and more flexible.

“This year, over 17 million existing ISA holders will benefit from these reforms. The reforms will also benefit all those people who are thinking about saving in an ISA for the first time.

“This move builds upon the success of ISAs, which the Government introduced in 1999 in order to develop and extend the saving habit and to ensure that tax relief on savings is more fairly distributed.”



Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Pensions anxiety causing sleepless nights

The recent turmoil in the equity markets is causing one in three middle-aged and older adults to lose sleep, a...