Personal savings

Individual Savings Accounts (ISAs)

With effect from 6 April 2008

The total annual limit is £7,200 (previously £7,000). At the same time the cash ISA yearly limit is increased to £3,600 (previously £3,000). Thus you will be able to invest all of this in equities or up to £3,600 in cash and £3,600 in equities.

Child Trust Funds will be capable of being rolled into an ISA once the child becomes 18.

From 6 April 2008 all old PEP accounts will be re-branded as stocks and shares ISAs, and should you wish you will be able to top them up using your 2008/09 ISA allowance.

In December 2006, it was announced that ISAs would be a permanent savings option.