Child ISA saving limit query

cashdesk

Hi,

I've got just over £4000 in my daughter's child ISA and I saw that the limit for 2019-2020 is £4,368. Does that mean I could only put another £300 in, or can I invest another £4,368 this year? I'm not sure if the savings limit is the most that can be in the ISA, or the most that can be added in one financial year.

Thanks in advance.

Asghar

cashdesk wrote: »

Hi,

I've got just over £4000 in my daughter's child ISA and I saw that the limit for 2019-2020 is £4,368. Does that mean I could only put another £300 in, or can I invest another £4,368 this year? I'm not sure if the savings limit is the most that can be in the ISA, or the most that can be added in one financial year.

Thanks in advance.

The limit of £4368 is the maximum that can be deposited/invested in any one tax year, 6th April to 5th April.

So if you haven't put anything in so far this tax year then you can invest £4368. There is no total savings limit.