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ISA allowance increases for over-49s

08 October 2009
Categories: News , Income Tax
Limit up to £10,200

Individuals born on or before 5 April 1960 can now take advantage of the £3,000 increase in the individual savings account (ISA) allowance, as announced by the Chancellor in the most recent Budget.

The limit has risen to £10,200, of which up to £5,100 can be saved in cash with one provider. The remainder may be invested in a stocks and shares ISA with either the same or another provider.

Alternatively, the full £10,200 can be invested in a stocks and shares ISA with one provider.

The new higher limits will apply to all eligible ISA investors with effect from 6 April 2010.

Categories: News , Income Tax
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