ISA limits for the current tax year are £20,000 and £4,368 for Junior ISAs.
What is a Cash ISA?
Stafford Railway Building Society offers a cash ISA whereby your cash is invested in a share account with us. You cannot subscribe to two different cash ISAs in the same tax year, but you can transfer your ISA to a different ISA provider. In subsequent tax years you may continue to invest in your existing cash ISA or alternatively subscribe with another provider.
How much can I invest?
You can invest £20,000 in an ISA in the 2019 to 2020 tax year.
IMPORTANT NOTE: For Cash ISAs, the limits above represent the maximum you are allowed to pay in during the tax year in question. For example, if you open a Cash ISA with a deposit of £20,000, but later in the same tax year you withdraw £1,000, you will not be allowed to pay into the account again until the following tax year. This is because you have already paid the maximum allowed sum of £20,000 into the account in the tax year in question.
How much can I invest in a Junior Cash ISA?
For the tax year ending 5th April 2020 the maximum amount you are allowed to pay into a Junior Cash ISA is £4,368.
IMPORTANT NOTE: Withdrawals are not allowed until the child reaches the age of 18.
Other important information
Further information about ISAs and other investment accounts offered by Stafford Railway Building Society can be found elsewhere on this website or by contacting the Society on the details below.
Further information about transferring your ISA can be obtained by following this link:
‘Transferring your cash ISA’ – consumer leaflet