Tax Free NISA Allowance Increased To £15,000 From 1 July 2014

The new tax free NISA replaces the ISA from 1 July 2014. The NISA enables individuals to invest up to £15,000 tax free from 1 July 2014, up from £11,800. Under the new rules you can now split the NISA allowance as you wish between a Stocks & Shares NISA and a Cash NISA.

Contactors and savers with spare cash should consider topping up their NISA to £15,000 for the current tax year as this is an effective tax free method of investing.