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Changes to ISA/PEP regulations

In April 2008, the Government made a commitment to the future of ISAs as a savings tool, simplifying the rules relating to them and increasing the amount you can invest tax-free. The changes happened automatically and no action was required by ISA investors.

A summary of the changes made to ISAs is given below:

  • There are now two ISA products.
    • Stocks and Shares ISAs
    • Cash ISAs
  • Subscription limits increased to £7,200 for Stocks and Shares ISAs and £3,600 for Cash ISAs. The combined total ISA limit is £7,200.
  • PEPs are now treated as Stocks and Shares ISAs.
  • Existing Maxi, Mini Cash and Mini Stocks and Shares ISAs became full Cash or Stocks and Shares ISAs.
  • Continuous applications are able to roll over into new accounts.
  • Transfers from Cash ISAs to Stocks and Shares ISAs are now permitted.

For more information about how the changes effect your current Aberdeen OEIC ISA, please contact our Customer Services Team on 0800 300 2890.

For investment advise, please contact your financial advisor.