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another isa questions
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garryo
Posts: 20 Forumite
wonder if anyone can help...
if i set up a joint isa would our tax free allowance increase to £6000?
cheers!
if i set up a joint isa would our tax free allowance increase to £6000?
cheers!
0
Comments
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There is no such a thing as joint ISA.0
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garryo wrote:wonder if anyone can help...
if i set up a joint isa would our tax free allowance increase to £6000?
cheers!
Joint isa's are not permitted. However, both you and your partner/spouse could open a mini cash isa each this tax year (i.e. by April 5th 2006) with £3,000. When the new tax year arrives (Apr 6th 2006) you will both get new £3,000 cash isa allowances, therefore allowing you to both top up your mini cash isas to £6,000 each. That's a total of £12,000 saved.Please call me 'Kazza'.0 -
The hint's in the name - Individual Savings Account
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And if we are talking ISAs and not CASH ISAs, then you have a £7000 personal allowance each in total per tax year.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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