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Find out the 2014-15 ISA allowance at SO Switch

ISA Allowance 2014-15

From April 2014 the ISA allowance will be a total of £11,880.  (£5,940 in a Cash ISA).

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what's it all about

ISA Allowance

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 Cash ISA)

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!