ISA allowance 2015/2016
Your ISA rules and limits.
In the current tax year you can invest up to £15,240 tax-efficiently.View our range of ISAs>
You can allocate your annual ISA allowance between both a Cash ISA and an Investment ISA in any way you like, as long as you stay within your ISA allowance. Below are some examples of how you could split your allowance.
With stock market investments, the value of your investments can fall as well as rise and you could get back less than you have paid in. Tax treatment depends on individual circumstances and tax law may change in the future.
Q. What is my total ISA allowance this tax year?
A. Your total allowance is £15,240 for tax year 2015/16.
Q. How much can I save in a Cash ISA?
A. You can save up to £15,240 in a Cash ISA in 2015/16 with another ISA manager. Less any amounts subscribed to a Stocks and Shares ISA.
Q. How much can I invest in a Stocks and Shares ISA?
A. You can invest up to the £15,240 in a Stocks and Shares ISA, also know as an Investment ISA. Less any amounts subscribed to a Cash ISA.
Q. Can I only have one kind of ISA?
A. No – you can have both a Cash ISA and a Stocks and Shares ISA at the same time, as long as you stay within the annual limit.
Q. Are the limits different if I want a Junior ISA?
A. Yes. You can save or invest up to £4,080 in a Junior ISA for your child in 2015/16. Again, you can split that between a Cash Junior ISA and a Stocks and Shares Junior ISA if you like. Customers can invest in an adult ISA and a Junior ISA for a child each tax year.
The current Government rules mean that you can put a total of £4,080 into a Junior ISA during the 2015/16 tax year.More about your Junior ISA allowance
No advice has been provided by Scottish Friendly. If you are in any doubt as to whether a plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.
Scottish Friendly is not responsible for the accuracy of the information displayed on externally linked third party websites. The Scottish Friendly Group of Companies consists of the following companies: Scottish Friendly Assurance Society Limited – Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of AFM, Member of ABI: Life, Savings and Investments. Scottish Friendly Asset Managers Limited – Authorised and regulated by the Financial Conduct Authority. Member of The Investment Association. Registered in Scotland No 187215: OEIC Managers, ISA Managers. Scottish Friendly Insurance Services Limited – Authorised and regulated by the Financial Conduct Authority. Registered in Scotland No 113007. SFIS (Nominees) Limited - Registered in Scotland No 397351. Head office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.