Budget Report, economy uk, budget economic, Treasury, Corporate Tax, Pensions, reform, R&D, Research and Development - ukbudget.com

  Deloitte UK   Tax   Deloitte news room   Contact us
Budget Report, economy uk, budget economic, Treasury, Corporate Tax, Pensions, reform, R&D, Research and Development - ukbudget.com
 

Individual Savings Accounts limits

The annual limits for contributions into Individual Savings Accounts (ISAs) will be increased from 6 April 2008.

The cash element will be increased to £3,600 per year into a cash ISA. The annual amount that can be invested in a stocks and shares ISA will be £7,200. The overall limit for investing into both ISAs will be £7,200 per year. Many of the previous distinctions between cash mini ISAs, stocks and shares mini-ISAs and maxi-ISAs will be removed from 6 April 2008.

Draft regulations have been issued confirming certain technical aspects announced in the Pre-Budget Report in December 2006.

Our view
An increase in the annual investment limits, the first since the introduction of ISAs in 1998/99, is to be welcomed and can be viewed as a very modest encouragement to tax efficient saving.