Cash ISAs

Cash ISAs are the most popular form of ISA and allow savers to shelter their money from the taxman by offering a tax-free investment vehicle.

Savers can invest up to £5,340 a year into a cash ISA. Once the deadline of the 5th April each year has passed you cannot carry forward the ISA allowance for that year.

This limit increased to £5,340 and £10,680 respectively from April 6th 2011.

Cash ISAs come in a variety of forms such as easy access cash ISAs and fixed rate cash ISAs. You can only open one cash ISA each tax year.

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