The annual subscription limit for an Individual Savings Accounts (ISA) will increase to £11,280 – up to half of which can be saved in a cash ISA – from April 2012, HM Treasury announced.
Junior ISAs (JISAs) will be available from 1 November, with a revised limit of £3,600 pa for each eligible child.
‘To ensure that children with a Child Trust Fund (CTF) are not disadvantaged, the current £1,200 CTF savings limit will also treble to £3,600 from 1 November, aligning the CTF limit with the new JISA limit. Both JISAs and CTFs will be index linked from April 2013,’ the Treasury said.
The annual subscription limit for an Individual Savings Accounts (ISA) will increase to £11,280 – up to half of which can be saved in a cash ISA – from April 2012, HM Treasury announced.
Junior ISAs (JISAs) will be available from 1 November, with a revised limit of £3,600 pa for each eligible child.
‘To ensure that children with a Child Trust Fund (CTF) are not disadvantaged, the current £1,200 CTF savings limit will also treble to £3,600 from 1 November, aligning the CTF limit with the new JISA limit. Both JISAs and CTFs will be index linked from April 2013,’ the Treasury said.
