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New tax year, new ISA allowance

What is the New ISAa (NISA)?

From July 1 2014 all ISAs will become New ISAs (NISAs). This applies to all existing ISAs and new accounts opened after 1 July. The Government is changing the name to reflect the significantly increased limits and flexibility that will be available to account holders.

The NISA will be more generous and will offer flexibility to save your NISA annual allowance of £20,000 in cash, stocks and shares or any combination of the two. Under the NISA rules you will also be able to transfer previous years' ISA savings freely between stocks and shares and cash if you wish.