skip to main content
Nov 2013

British Banks Call For 100% Increase in Cash ISA Allowance

The chancellor should raise the tax-free savings allowance, according to the British Bankers' Association (BBA)*, as this may encourage more people to save. Currently, each eligible person gets an ISA allowance of £11,520 a year - up to half of which can be saved in cash. However, the BBA has suggested a change in the rules in order to permit people to put their entire allowance into a cash ISA.

Call for flexibility

The BBA also called on the Chancellor to alter the existing prohibition on savers transferring funds from investment ISAs to cash ISAs as this would "support those savers running down their assets to manage investment risk as they approach retirement."

Lifetime ISA limits an unpopular prospect

The BBA also opposed the idea that the Government may impose a limit on lifetime ISA contributions, arguing that: "Any plans to limit the amount that savers can hold in these tax-free accounts risks damaging the ISA brand which has been carefully nurtured as a key part of the UK's long term savings planning."

The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

* Source:

Lifetime ISAs

Save for your first home and retirement

Compare Lifetime ISAs

Junior ISAs

Invest for your child’s future

Compare Junior ISAs: 

Stocks & Shares ISAs

Invest tax-free in stocks and shares 

Compare Stocks and Shares ISAs:

Latest News

5 Considerations for Your Next Investment ISA

15th March 2021

You've decided to invest your savings into a Stocks and Shares ISA. You'll be using your tax-free ISA allowance for this year before the deadline, while also investing your money for your future. But what do you need to consider before opening an account? We've put together a list of our top five considerations for you to think about before you click "apply". 

Newsletter Signup

Sign up to our Newsletter to get exclusive news and offers direct to your inbox.

About us is a trading style of Fair Investment Company.

We've been comparing and recommending ISAs for many years so you can trust you're in good hands.

About us