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Personal savings
Individual Savings Accounts (ISAs)
With effect from 6 April 2008
The total annual limit is £7,200 (previously £7,000). At the same time the cash ISA yearly limit is increased to £3,600 (previously £3,000). Thus you will be able to invest all of this in equities or up to £3,600 in cash and £3,600 in equities.
Child Trust Funds will be capable of being rolled into an ISA once the child becomes 18.
From 6 April 2008 all old PEP accounts will be re-branded as stocks and shares ISAs, and should you wish you will be able to top them up using your 2008/09 ISA allowance.
In December 2006, it was announced that ISAs would be a permanent savings option.
Budget Report
- Budget highlights
- Business taxation
- Business incentives
- Company cars
- Company vans
- Mileage allowances
- Value added tax
- Personal taxation
- Residence and domicile
- National insurance contributions
- Personal savings
- Capital taxes
- Excise duties
- Stamp duties
- Other measures announced
- 2008 Tax and business calendar