Author Topic: Calls to raise Cash ISA limit to the full £11,280  (Read 1736 times)

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Philofacts

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Calls to raise Cash ISA limit to the full £11,280
« on: October 01, 2012, 09:48:19 am »
Financial Mail has organised an epetition: epetitions.direct.gov.co.uk/petitions/38599 calling for the cash ISA limit to be raised so that everyone will be able to use the full allowance of £11,280 in a cash ISA as well as transfer funds from equity ISAs to cash ISAs.

At present only £5,640 can be invested each tax year in a cash only ISA whilst the full £11,280 can be put in an equity ISA.
This campaign is supported by many top financial institutions, but as David Barral CEO of Aviva confirmed that the average family holds just £1,131 in savings.
The average sum saved each month is just £29.

Not everyone will be able to take full advantage if the rules are changed.
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