ISA allowance

The government allows you to put up to £7,200 each year into a Stocks & Shares ISA and, once invested in an ISA, the tax man has no future claim to any capital growth or income that you receive on this money.

From 6th April 2010, the ISA allowance will rise to £10,200 (with up to £5,100 in a Cash ISA). For the over-50s, the change applies from 6th October 2009, meaning that if you are over 50 you can invest an additional £3,000 in the 2009/10 tax year.

If you prefer, you can invest up to £3,600 in a Cash ISA and then also invest in a Stocks & Shares ISA providing your total ISA investment for the tax year does not exceed £7,200.

How much could my investment be worth in the future?

To give you an idea of how your savings could grow we have produced this simple calculator. You can either pick an amount to save and see what it could be worth or use the calculator to target an amount that you want to hit.

How do I start?

There are two ways that you can open a Stocks & Shares ISA online:

1. You can invest a lump sum using your debit card
2. You can set up a regular savings plan and start with as little as £50 per month

Of course you can do both of these at the same time; for example you may wish to invest £1,000 and then save £250 each month. Towards the end of the tax year you can then top up your ISA to make sure that you had made the most out of your £7,200 allowance.

Please note that the minimum lump sum investment for a new account is £1,000 if you are setting up regular savings into the ISA and £3,000 if you are not setting up regular savings into an ISA.

Topping up your account

Once open, you can top up your Stocks & Shares ISA online using a debit card.

Can I transfer my existing ISAs?

Yes. You can also transfer existing ISAs (including Cash ISAs) to Hargreaves Lansdown and benefit from having all of your investments in one place.