The more money you can add to your ISA account the better in
order to make the most of your tax-free savings. But you
should also remember that each tax year (which runs from the 6th
April one year to 5th April the next year) you're only allowed to
invest a certain amount of money into your ISA.
This is known as your ISA allowance.
In the 2013-14 tax year, which will end on 5th April 2014, your
total ISA allowance is £11,520.
In 2014-15 your ISA allowance will rise to £11,880 (£5,940 for a
If you wish your ISA allowance can be split. For example,
you could choose to invest in a Cash ISA, the maximum limit for
this is £5,940. The remainder of your savings could then be
invested in a stocks and shares ISA, allowing your money to be
spread over a wide range of investments.
Alternatively you can choose to invest the whole amount in a
stocks and shares ISA. The choice is yours!