Some confusion followed the Budget announcement that the annual tax free ‘cash ISA’ limits were being increased from £3,600 to £5,100 for investors aged 50 or above from 6th October 2009 and from 6th April 2010 for everyone else.

It has recently been confirmed that the increased allowance for those individuals with a 50th birthday between 6th October 2009-6th April 2010 will be made available from that birthday.

Please also read about important pension choices for people celebrating their 50th birthday before 6th April 1960.

A cash ISA account can be opened on the lower amount of up to £3,600 at anytime and topped up to £5,100 at anytime between the 50th birthday and the end of the tax year. For help with selecting a cash ISA, or any other investment advice, please get in touch.

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