The 2013-14 tax year ends on 5th April 2014. You have until this time to pay into an ISA, a tax free savings “wrapper” where all interest or earnings are paid tax free.
There are 2 kinds of ISA
1. Cash ISA which has a limit of £5760 for the 2014 tax year.
2. Stocks and shares ISA with a limit of £11520 for the 2014 tax year.
You can invest up to £11520 in total in an ISA during the tax year . So you could have £5760 in cash and the remainder in stocks and shares.
If you are looking for help or investment advice please contact us directly and Park Lane Accountants Bath can recommend a qualified and regulated IFA to advise you accordingly.
Call us now on 01225 701875