You can contribute up to £11,520 to an ISA (individual savings account) in the 2013/14 tax year, of which a maximum of £5,760 can be in cash. The rest can be held in stocks and shares, or the full amount can be if no cash ISA is held. Returns on ISA savings and investments are free from income and capital gains tax (though a 10% tax is taken on any dividends from stocks and shares).
There is no lifetime limit on the amount you can hold in an ISA, subject to annual contribution limits for cash and stocks and shares.
How we work
Our advisers can help you plan your ISA contributions in order to maximise your annual tax-free allowances. If you contribute the maximum amount possible to an ISA over a significant period of time, you can build up a substantial fund that can form an important part of your retirement and business exit planning.