ISA increased allowance
The latest ISA bulletin has been published and covers the increase in ISA limits announced in the 2009 Budget. The relevant regulations raise the ISA subscription limits for individuals who will be aged 50 or over by 5 April 2010, to £10,200, of which £5,100 can be invested in cash, with effect from 6 October 2009. The new regulations also raise the ISA limits for all individuals from 6 April 2010.
The bulletin discusses how the ISA providers should let relevant taxpayers know about the new limits and have suggested the wording to be included in product literature.