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Thread: 2013/14 Cash ISA what’s the new Allowance?

  1. #1
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    2013/14 Cash ISA what’s the new Allowance?

    Hi there, thanks to the help on here I’ve now filled my 2012-13 tax free cash ISA allowance with a very nice interest rate, thanks!!!!

    I now want to start saving for the 2013 to 2014 ISA year, can you tell me what the 13/14 Tax free cash ISA limit will be?

    Thanks!

    UPDATE 5th of December 2012: due to this being such a popular post I thought I'd add the info at the top. New ISA Allowance: £11,520 in total you can put all of that into stocks and shares or split it with up to £5,760 in a cash ISA and the rest in stocks and shares.

    -regards Gav.
    Last edited by Gav; 5th December 2012 at 08:00 PM. Reason: Updated 5th of December - with the ISA amounts.


  2. #2
    Gav
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    Glad to hear you got a great interest rate on your 2012-2013 ISA allowance, it's tough to get great returns at the moment, but keep an eye on it to make the most of your savings!

    Sadly at present I don't know the 2013-2014 allowance, I think the new allowance gets released in September, but maybe someone can correct me on that? As soon as I know I'll add it here. If you can save £5,640 that'd be a great starting point.

    regards
    Gav.

  3. #3
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    The savings limit is based on the September CPI figure which was announced yesterday as 2.2%
    The limit is last year + CPI rounded to nearest £120 (to enable simple monthly savings calculation)
    From this, there should be an announcement any day now that the 2013-14 cash limit will be raised from £5640 to £5760
    Gav likes this.

  4. #4
    Gav
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    Thanks Terry60, much appreciated.

    To all those looking for the best ISA deals; sorry I've not been doing a lot of updates of late, I've recently had two rounds of surgery and the carpal tunnel is still terrible. I hope to change things to make it easier to find the best ISA rates from the next few weeks.

    I've noticed that a lot of people, even some at the start of this: BBC News - UK inflation rate slows to 2.2% in September think that with the Consumer Prices Index (CPI) inflation dropping from 2.5% to 2.2% things will get cheaper, what it means is on average things have been going up in price by 2.2% compared to earlier in the year when they were rising at 2.5%.


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