Annual ISA allowance

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ISAYou can save up to £15,000 tax free each year into an Individual Savings Accounts (ISA). The payments must be made before the end of the tax year (5 April) but this year due to Easter, this is likely to be Thursday 2 April, with advisors closed for the long weekend.

Following the changes made in the 2014 Autumn Statement, your spouse/Civil Partner can now inherit your ISA and no tax will be paid on gains, adding to the benefits of using ISA’s.