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Mini Cash ISA Limits

By Business & Finance Last updated Saturday, June/01/2024

When Introduced

ISAs were introduced in April 1999. Initially, mini and cash ISAs were available. This distinction was abolished at the end of the 2007/2008 tax year, and the only difference now is between a Cash ISA and a Stocks and Shares ISA.

ISA Allowance Limits

For the UK tax year ending April 5, 2011, the maximum amount that can be invested in a Cash ISA is £5,100 per person. The maximum that can be invested in a Stocks and Shares ISA is £10,200 per person.

Future Allowance Limits

In March 2010, the UK government announced that after April 2011 ISA limits will rise each year in line with inflation.

ISA Transfers

ISAs can be transferred from one manager or bank to another. The transfer, which is usually free, needs to be done between the managers. If a saver transfers the money himself, it is treated as a withdrawal, and the saver is unable to reinvest the withdrawn amount in another ISA if his annual allowance limit has been reached.

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