Change in ISA allowances
In the 2014 Budget, announced by George Osborne back in March, The Chancellor revealed a range of initiatives, with the two most significant, and unexpected being changes to pensions and ISA investing.
• Radical reform of pensions, effectively introducing flexible drawdown for all defined contribution schemes, and a major relaxation to the rules for turning small pension pots into cash lump sums.
• Reform of ISAs, with a new £15,000 annual contribution limit and full transferability in both directions between stocks and shares and cash.
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