ISA allowance to rise from April

The Individual Savings Account (ISA) limit will be increased by £470 in April next year, the government has confirmed. The increase is in line with the rate of inflation of 3.1 per cent in September as previously announced in the Budget. The increase means the amount savers can put into a stocks and shares ISA will rise from £10,200 to £10,670 in April 201 and, from £4,865 to £5,335 in the case of a cash-only ISA. More than 20m UK residents are estimated to have a tax-free ISA.