2020-21 ISA limits

colsten

Adult ISA  limit for 2020-21 remains £20,000.
JISA limit for 2020-21 raised from £4,368 to £9,000

(source: https://www.gov.uk/government/publications/budget-2020-documents/budget-2020)

Zorillo

I'm wondering where the demand to double the JISA allowance came from?

Alexland

It's also being applied to CTFs so the trick of contributing to a CTF before transferring to a JISA where it will then be counted as a previous tax year subscription just got bigger.

Seems an unnecessary giveaway that only the top income/weath would benefit from as we find adult ISA and Pension allowances are already pretty hard to fill each tax year.

Larger JISA account balances built up from higher contribution limits might cause providers to stop offering such attractive cash rates.

tropic_of_Username008

Zorillo said:

I'm wondering where the demand to double the JISA allowance came from?

Rich people who use their children as tax shelters.