New ISA Allowances for 2012/13

10th April 2012 by RetireEasy

Mark Soper-RetireEasy

The new tax year officially commenced on Good Friday and the ISA allowances increased on the same day.

For 2012/13 you can invest up to £5,640 in a Cash ISA with the balance invested in a Stocks & Shares ISA or up to the full limit of £11,280 in a Stocks & Shares ISA.

The income generated from an ISA can be a tax effective way to increase your retirement income, particularly with the freezing of age-related income allowances from next April.

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