Savings and Investments
ISAs and PEPs
| Individual
Savings Accounts (ISAs) |
| Overall
investment limit |
£7,200 |
| Including
cash maximum of |
£3,600 |
|
Notes
- 'Stakeholder' cash and medium term
products can be held in your ISA
as follows:
- Cash ISA - (limit £3,600)
- Stocks and shares ISA (balance
of £7,200 limit)
- Investments in ISAs are free of
income tax and capital gains.
- Those aged 16-17 can invest up
to £3,600 only, in a cash ISA.
- ISAs allow you to take your money
out at any time without losing tax
relief and furthermore you are not
required to declare income and capital
gains from ISA savings.
Personal Equity Plans (PEPs)
PEPs are converted to stocks and shares
ISAs from 6 April 2008.
|
