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The Lolly ISA guide

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ISAs or individual savings accounts are a popular and tax-efficient way to save. This guide to ISAs tells you about the three main types of ISAs: cash ISAs, stocks and shares ISAs and junior ISAs for children, and how much you can save into them every year.

by Victoria Bischoff on Jul 31, 2012 at 00:01

The Lolly ISA guide

Key points about ISAs:

  • Unlike pensions, you can access money saved in an ISA at any time.
  • Cash ISAs are a good way to build up a pot of money for emergencies or shorter-term projects.
  • Stocks and shares ISAs are longer-term investments and are for money you can afford to put away for five years or more.
  • In the 2012/13 tax year you can save up to a total of £11,280 into cash and stocks and shares ISAs.
  • The most you can put into a cash ISA is half that amount – £5,640 – with any more going into a stocks and shares ISA.
  • Or you could put up to £11,280 into just a stocks and shares ISA.
  • Adults can contribute to a junior ISA for a child. The annual allowance for a junior ISA is currently £3,600.

The Junior ISA: tax-free savings for the kids

What is a stocks and shares ISA?

• More on ISAs and how to get one

• The 210 savings accounts that beat inflation

• ISA 2012: a guide to the Citywire Selection of best funds

1 comment so far. Why not have your say?

ljmuk

Mar 18, 2013 at 00:49

Do you intend to update this page at some point before 5th April 2013????

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