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25 October 2011
£11,280 from April 2012
Following the publication of September’s inflation figures by the Office for National Statistics, the Treasury has announced that subscription limits for individual savings accounts (ISAs) from April 2012 will increase to £11,280, up to half of which can be saved in cash.
Junior ISAs will be available from 1 November with a limit of £3,600 per year for each eligible child. The original proposal in the March 2011 Budget was for a £3,000 limit.
To ensure children with a child trust fund are not disadvantaged, the current £1,200 savings limit will treble to £3,600 from 1 November, aligning the limit for these funds with the new junior ISA limit.
Both junior ISAs and child trust funds will be index linked from April 2013.
