Savings: A warning about the ‘nicer’ ISA

Warning tapeSavers were delighted and surprised when it was announced in the Budget, that the maximum contribution into a Cash ISA (Individual Savings Account) will rise to £15,000 from 1st July. But there’s a sting in the tail, which could mean savers miss out on sheltering £9,060 from the taxman. Missing out on the new ISA limit The ISA limit will rise part way through the tax-year, on 1st July, creating a problem for savers. From 6th April 2014 the maximum savers can pay into a Cash ISA is £5,940; this will rise ...