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  • innovate
    The rules will apply to all existing ISAs. I.e. You will be able to transfer from S&S to cash ISAs, and you will be able to chose how much of the allowance you put into cash and how much into S&S. In addition, the total allowance for 2014-15 will be 15,000 from July 1.

    If your existing ISA still allows deposits, you can just continue as usual, and deposit up to new allowance after July 1.

    Why did you think you needed to open a new ISA today?
    • tigerm25
    • By tigerm25 10th Apr 14, 8:59 AM
    • 23 Posts
    • 5 Thanks
    tigerm25
    Thank you innovate, you've answered my question. I've been saving for a deposit on a house since December last year, and I wanted to make sure I was saving the maximum I can afford to save.

    Why did you think you needed to open a new ISA today?
    Originally posted by innovate
    Because on MSE its seems to qualify this allowance rise by using the dates 6th April to 30th June;

    "Any Isas opened between 6 April and 30 June will automatically become a NISA, with a higher limit. From 1 July, you'll be able to add further money up to the new 15,000 limit." Budget 2014: Cash Isa allowance up to 15,000 in New Isa (NISA), 19 March 2014

    Thank you again for answering my question!
  • innovate
    Sometimes I wish nobody had ever coined the phrase NISA. It seems to mainly cause confusion.
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