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.
Navigate through your guide to the Budget 2008
Introduction and Budget highlights Residence and domicile Business taxation National insurance contributions Business incentives Personal savings Company cars Capital taxes Company vans Excise duties Mileage allowances Stamp duties Value added tax Other measures announced Personal taxation 2008 tax calendar
Content by: Business Made Simple
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