New isa limit

cutesluvver

So does this mean we can put £5940 into an ISA between April and June and then £15000 from July or is it £15000 in total from April.

SG27

cutesluvver wrote: »

So does this mean we can put £5940 into an ISA between April and June and then £15000 from July or is it £15000 in total from April.

It's £5940 in April and the remainder of the £15k in July

Mattygroves2

Or £11,880 into a S&S ISA before July and £3,120 between July and 5 April 2015.

Gromitt

Between 6 April and 1 July 2014, the total amount that you will be able to pay into a Cash ISA is £5,940. If you also have a Stocks and Shares ISA, you will also be able to pay into that account, but the combined amount you pay into your Cash and Stocks and Shares ISAs must not exceed £11,880.

From 1 July 2014, your existing ISA will automatically become a NISA, with a higher limit and more flexibility. Thereafter you can then add further money to either your Cash or Stocks and Shares NISA, up to the new £15,000 limit.

Official fact sheet: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293746/Fact_sheet_ISA_8.pdf

CLAPTON

Gromitt wrote: »

Between 6 April and 1 July 2014, the total amount that you will be able to pay into a Cash ISA is £5,940. If you also have a Stocks and Shares ISA, you will also be able to pay into that account, but the combined amount you pay into your Cash and Stocks and Shares ISAs must not exceed £11,880.

From 1 July 2014, your existing ISA will automatically become a NISA, with a higher limit and more flexibility. Thereafter you can then add further money to either your Cash or Stocks and Shares NISA, up to the new £15,000 limit.

Official fact sheet: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293746/Fact_sheet_ISA_8.pdf

that is the government allows you to do
however, it is not yet clear what ISA providers will allow.

Archi_Bald

CLAPTON wrote: »

that is the government allows you to do
however, it is not yet clear what ISA providers will allow.

The only bit that is unclear right now is how people could invest the increased allowance in a cash ISA if they had taken out a fixed term ISA in 2014-15 which allows no further deposits from a date before July 1 2014.

Depositing the additional allowance into instant cash ISAs and into S&S ISAs won't be an issue.