ISA limit boosted to £11,880

The government will boost ISA, Junior ISA and child trust fund (CTF) annual subscription limits in line with the consumer price index, it said today.

The 2014-15 ISA limit will be increased to £11,880 per year - half of which can be saved in a cash ISA - while the Junior ISA and CTF limits will both be increased to £3,840, from £3,720. However, Chancellor George Osborne stopped short of announcing whether the government was planning to introduce a cap on the amount savers can hold in tax-free ISA accounts, as recently speculated, with one suggestion having been to cap it at £100,000. He also did not say whether he would allow children who hold CTFs to transfer their savings to new Junior ISAs. He had announced in his fourth Budg...