Cash ISA limits

jimjames

Wookiee wrote: »

All of the descriptions on the various banking sites (as well as many financial sites) seem to suggest that it's an absolute balance limit, that you cannot under any circumstances exceed it, and that if you want to save more you need to wait for a new tax year and open another ISA.

This is actually the case so it is correct.

There is a maximum you can put into a cash ISA each year, currently £5760 and if you want to save more then you need to wait until the next tax year. Previous year's ISAs have no bearing on how much you can put in this year but that seems to be covered by the last part of the quote above anyway.

ColdIron

Oops, it's £5,760