ISA allowance 2015/2016

Time is running out on the current tax year...

It’s time to get the most out of this tax year's tax-free allowance before it’s too late.

Use it or lose it!

It won't be long until the end of the current tax Year (5th April) and your 2015/2016 ISA allowance will expire. If you don't use your allowance, currently £15,240, this tax year you'll lose it! Any remaining allowance not used doesn't carry over into the new tax year, so to make the most of this tax efficient benefit use your current allowance before it's too late. Below are examples of how you can split your allowance between your Cash ISA, with another ISA provider, and your Investment ISA (also known as a Stocks & Shares ISA). You'll also find a video and some Frequently Asked Questions below which may help you.



ISA allowance Allocation

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.

ISA table

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.

ISA allowance FAQs

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.

View our range of ISAs>

Junior ISA rules

Junior ISA allowance

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

Our range of ISAs

Our range of ISAs

Scottish Friendly offers a range of flexible Investment ISAs that could help you invest for the future.

More about our ISAs

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 Advisers may charge for providing such advice and should confirm any cost beforehand.