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What are the new ISA allowances announced in the recent Budget?

April 26, 2017allowances announced budget ISA recent

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What are the new ISA allowances announced in the recent Budget?

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The ISA limit is increasing from £7,200 to £10,200. The change comes into effect for the over 50’s from 6th October 2009 and from 6th April 2010 for the rest of the population. Of the new £10,200 limit, upto £5,100 will be allowed for Cash ISA investment, with any surplus between the amount you place in a Cash ISA up to £10,200 being available to invest in a stocks and shares ISA.