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ISA limits increased

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The annual subscription limit for an Individual Savings Accounts (ISA) will increase to £11,280 – up to half of which can be saved in a cash ISA – from April 2012, HM Treasury announced.

Junior ISAs (JISAs) will be available from 1 November, with a revised limit of £3,600 pa for each eligible child.

‘To ensure that children with a Child Trust Fund (CTF) are not disadvantaged, the current £1,200 CTF savings limit will also treble to £3,600 from 1 November, aligning the CTF limit with the new JISA limit.  Both JISAs and CTFs will be index linked from April 2013,’ the Treasury said.