Increases in ISA limits are now based on the movement in the in Retail Price Index (RPI). This has now been calculated for the relevant period and applied for the 2011/12 tax year.
The new ISA limits from April 2011 are as follows:
- the overall ISA limit increased to £10,680 (2010/11 £10,200)
- the amount that can be invested in a cash ISA is increased to £5,340 (2010/11 £5,100)