ISA Rule Change
ISA Rules will change on 6 April 2008
With effect from 6 April 2008, the Government have confirmed that ISAs will continue beyond the original deadline of 2010 and this is good news for savers.
ISAs will also become simpler, more flexible and allow you to save even more.
In summary, the changes to the ISA rules are as follows:
ISAs will also become simpler, more flexible and allow you to save even more.
In summary, the changes to the ISA rules are as follows:
- The annual allowance will be increased to £7,200 per tax year
- Up to £3,600 of the allowance can be saved in a Cash ISA with one provider and the remainder of the £7,200 can be invested in a Stocks and Shares ISA with the same, or a different, provider
- The 'Mini' and 'Maxi' distinction between ISAs will be removed - there will only be 'Cash' and 'Stocks and Shares' ISAs
- Any old Personal Equity Plans will become Stocks and Shares ISAs
- Any old TESSA only ISA investments will become Cash ISAs
- Funds in an existing Cash ISA can be transferred to a Stocks and Shares ISA (but not vice versa)
To find out more about the ISA changes, call us on 0800 093 0002 or visit your local branch.
Are you making the most of your Cash ISA?
Many people don't take full advantage of their tax free allowance each year. With the increased investment limit of £3,600 per year, Leek United's Instant Access Cash ISA is a great way to make the most of your personal allowance. You can be confident that you are making a wise choice as our Cash ISA was recognised in 2007 by Moneyfacts.co.uk as one of the most consistent over 18 and 36 months.
Transferring your ISA to Leek United
If you have a Cash ISA with another bank or building society, it's easy to transfer your investment to us. You simply complete a short transfer form and application and we will look after the rest.
For further details about Leek United's Cash ISA, click here.
For further details about Leek United's Cash ISA, click here.