Over 50's ISA

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Legacy_user
Legacy_user Posts: 0 Newbie
in ISAs & tax-free savings
My DH is 50 in February so soes that mean he can open an ISA of £5100 this year?

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  • rb10
    rb10 Posts: 6,334 Forumite
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    He can only pay in £3600 now, but will be able to top this up to £5100 from 6th October.
  • McKneff
    McKneff Posts: 38,831 Forumite
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    rb10 wrote: »
    He can only pay in £3600 now, but will be able to top this up to £5100 from 6th October.

    Will he be able to top up this ISA while he is still 49 the OP says he wont be 50 until February 2010?
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • david78
    david78 Posts: 1,654 Forumite
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    Yes, if someone is 49 now but has their 50th birthday before the end of the tax year (i.e. anyone who was 49 on or before the 6th April this year), they will have an additional cash ISA allowance of £1,500 available from 6th October this year. They can use this on 6th October if they wish - they don't need to wait until they are 50.
  • McKneff
    McKneff Posts: 38,831 Forumite
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    Thanks david78, useful to know, that.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
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