Should I invest in an ISA now or wait until the new tax year?
The investment thresholds for ISAs are set for each tax year and cannot be carried over into the next tax year. The limit for 2007/08 is £3,000 for a cash ISA and the balance of up to £7000 in stocks and shares. These limits increase on 6 April 2008 to £3,600 and the balance up to £7,200 for stocks and shares. So if you don’t invest before 6 April 2008 you have missed you 2007/08 ISA allowance, but you will have more scope with the higher investment limits in 2008/09.