TISA Budget 2014 – Clarification of NISAs
Further to the Budget announcement about the development of a New ISA (‘NISA’), Carol Knight, TISA operations director said:
“We are pleased that the overall annual ISA allowance has been increased to £15,000 and we welcome the flexibility of being able to have two ‘NISA’s in one tax year – one Cash ISA and one Stocks & Shares ISA – and hold the total allowance in either of these or in any combination of the two.
“The ability to transfer from a Stocks & Shares ISA to a Cash ISA is particularly welcome and is something that we have long argued for. The increase in the annual subscription limits for both Adult and Junior ISAs also reinforces the message that we all need to save more for our future financial wellbeing.”
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For further information, please contact:Carol Knight, TISA operations director – Tel: 01642 666989Email: carol.knight@tisa.uk.com
Issued on behalf of TISA by Newgate Communications, contact Alistair Kellie – Tel: 020 7680 6558 or 0780 12345 98Email: alistair.kellie@newgatecomms.com
Notes for Editors
TISA
TISA is a not-for-profit membership association operating within the financial services industry. We represent the interests of over 145 member firms involved in the supply and distribution of savings and investment products and services. TISA has a highly successful track record in working cooperatively with government, regulators, HMT, DWP and HMRC to improve the performance of the industry and the outcomes for consumers. Policy and regulation continues to be the major focus for our members with regard to corporate responsibility. TISA and its members’ remit is evolving into a clearer focus on pro-active consultation in the regulatory world in order to influence policy and associated regulation before its creation, rather than reacting to issued policy directives. This will help to ensure a more considered policy creation from the authorities.