The ISA Bulletin keeps ISA managers informed of any new developments relating to the ISA scheme. Please ensure the appropriate people in your organisation read it.
We suggest that you keep Bulletins at the front of your copy of the Guidance Notes for ISA Managers.
This Bulletin contains an article on new ISA limits announced in Budget 2009.
Enquiries on this bulletin should be addressed to:
David Taylor
HM Revenue & Customs (SSO Liverpool)
Room 320
3rd Floor
St John’s House
Merton Road
Liverpool
L75 1BB
Tel: 0151 472 6156
Email: David Taylor
The ISA limit will be raised to £10,200, up to £5,100 of which can be saved in cash. The new limits will apply to people aged 50 and over in 2009-10 and for all ISA investors (aged 18 or over) from 2010-11 onwards.
From 6 October 2009, the ISA limit will increase to £10,200, up to £5,100 of which can be saved in cash for people aged 50 or over. From 6 October, those aged 50 and over will therefore be able to deposit £10,200 into their 2009-10 ISA, up to £5,100 of which can be in cash.
From 6 April 2010, the ISA limit will increase to £10,200, up to £5,100 of which can be saved in cash for all ISA investors aged 18 or over. (The limit for investors aged 16 and 17 will rise to £5,100.) From 6 April 2010, all savers aged 18 or over will therefore be able to deposit £10,200 into their 2010-11 ISA, up to £5,100 of which can be saved in cash.
Please see a copy of the Draft regulations Statutory Instruments 2009 No. Income Tax - The Individual Savings Account (Amendment) Regulations 2009 (PDF 34K). We would welcome comments on the draft by 20 May 2009.
Part of the purpose of the ISA Bulletins is to clarify areas of the Guidance Notes for ISA Managers. If you feel that any aspect of the guidance is unclear you should contact David Taylor, you can contact him on Tel 0151 472 6156.
