New ISAs and Junior ISAs

New ISA (NISA)
 
As part of the 2014 budget, the Government are creating the New ISA (NISA) as a simpler solution to replace the current ISA system.
 
Since 6 April 2018 you can now invest up to £20,000 into an ISA.  This can be fully invested into a Stocks & Shares ISA, fully invested into a Cash ISA or a combination of the two.
 
How will NISAs work?
 
You will only be able to open one Stocks & Shares ISA and one Cash NISA in any one tax year.
 
You may, however, transfer existing ISAs into a new one as long as you transfer the full amount.
 
Transferring between Cash and Stocks & Shares
 
You may already be aware that you could only previously transfer your Cash ISA to a Stocks & Shares ISA.  Since 1 July 2014, you can transfer both ways.
 
If you would like to invest in a NISA or discuss further, please either contact your usual adviser or use our contact page.
 
 
Junior ISAs (JISAs)
 
Junior ISAs also became more flexible from 1 July 2014
 
From 6 April 2018 you will be able to invest up to £4,260 in Stocks & Shares, Cash or a combination of the two on behalf of a child. You will also be able to transfer money held in a Child Trust Fund (CTF) to a Junior ISA.
 
Withdrawals can only be made once the child reaches 18.