ISA Options - Mortgages - Cambridge Building Society

Saving with the Cambridge

INSTANT ACCESS ISA

Instant Access ISA

NOTICE ISA

Members' Notice ISA

FIXED RATE ISA

1 Year Fixed Rate ISA (Issue 1)

OTHER SAVINGS ACCOUNTS

Other Savings Accounts

ISA - Your options for Tax efficient Savings

Scroll down to see the latest ISA subscription limits update

What is ISA?
The Government's tax efficient savings scheme the 'Individual Savings Account' or 'ISA', offers a range of savings options in cash savings and equities (stocks and shares).
Your ISA options

There are two types of ISA: 'cash' ISAs and 'stocks and shares' ISAs. Each tax year you can take out one cash and one stocks and shares ISA.

Subscription limits and tax
Under the current Government rules, you can invest up to £7,200 each tax year in the ISA scheme. The tax year starts on 6th April. Tax treatment will depend on individual circumstances and may change in the future.

As well as the overall limit you can hold in the ISA, there are restrictions on how much you can pay into each type of ISA in each year.

	Maximum Annual Subscriptions
Cash	£3,600
Stocks and shares	up to £7,200
Total	£7,200

Subscription limits update October 2009

From 6th October 2009, the ISA subscription limit will increase to £10,200 for anyone eligible to invest in an ISA who was born on or before 5th April 1960 (that is, who will be aged 50 or over during the current tax year). Up to £5,100 of the new ISA allowance can be saved in a cash ISA with one provider. The remainder of the £10,200 can be invested in a stocks and shares ISA with either the same or another provider. Alternatively, the full £10,200 can be invested in a stocks and shares ISA with one provider.

Please find additional information below.

Subscription limits update

ISA account brochure

These higher limits will apply to all eligible ISA investors with effect from 6th April 2010.

Important restrictions

By opening a cash ISA, you will be limiting the amount of investment in equities that you may make through ISAs.
You can transfer some or all of the money saved in previous tax years from cash ISAs to stocks and shares ISAs without affecting your annual ISA investment allowance. You can also transfer all of the money saved in the current tax year from cash ISAs to stocks and shares ISAs. You cannot, however, transfer money invested in stocks and shares ISAs to cash ISAs.

For more information about ISAs, visit the Inland Revenue website at www.inlandrevenue.gov.uk/isa

Who can open an ISA?

Currently anyone who is aged 18 or over, and who is a UK resident for tax purposes, can subscribe to the ISA scheme. For Cash ISAs (such as our Instant Access ISA, Members' Notice ISA and Fixed Rate ISA), the minimum age for investors is 16.

Stakeholder

The Government's Stakeholder status for ISAs provides a benchmark designed to identify straightforward savings products which are simple, clear and fair. Stakeholder status does not guarantee the best performance nor is it necessarily suitable for every saver.

We offer 3 types of Cash ISAs