Budget 2011 ISAs and Junior ISA

Budget 2011 ISAs and Junior ISA.

ISA Allowances for 2011/12 confimed as follows:

• ISA maximum £10,680
  
• ISA maximum cash element  £5,340 (half of overall limit)
  
• ISA maximum stocks and shares element  £10,680 ((less any in cash ISA)
• ISA allowance will now rise each year with Consumer Prices Index (CPI) as at September previous year and not RPI
  

Junior ISAs - Childrens ISA  (for those UK resident children who do not have a Child Trust Fund CTF)

• Confirmed will be launched later this year, probably October 2011
  
• Rules to be published on 31 March 2011
• Tax rules will be very similar if not identical to normal ISAs
• Savings Limits to be published.
  

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