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New ISA Rules for 2008

From 6th April, the new ISA definitions and limits for the 2008/9 tax year are now in force.

The terms 'mini' and 'maxi' are history, and you now have the choice of a cash ISA, a stocks and shares ISA or a combination of the two.

The new annual allowance for a cash ISA is £3600 in a single tax year compared to the previous limit of £3000.

The new stocks and shares ISA, previously known as a Maxi ISA, has an annual limit of £7200.

Please note: individuals are able to subscribe up to £7200 in a tax year. Up to £3600 of that can be saved in a cash ISA with the remainder of the £7200 available to invest in a stocks and shares ISA.

ISAs have been popular since they were first introduced in 1999. Their attraction is that any money accrued within them is free of either income tax or capital gains tax.

The Cash ISA from Teachers

Members can benefit from tax free savings by opening up a Cash ISA with Teachers Building Society with a minimum investment of just £250, or only £100 for teachers and others who work in education. Unlike investment products from many other organisations, savings earn interest from each complete day that your money is with us. On top of that, our Cash ISA is an easy access account, meaning withdrawals against cleared funds are free at any time and free of any interest charges.

Click Here to download the application form and apply.

If you have any questions about the Cash ISA or the application form, you can contact us:

By email
By letting us call you
By calling us on 01202 843550

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