ISAs Just Got NISA - Origen Financial Services review the super New ISA launched July 2014

Share Article

The New Individual Savings Account (NISA) announced in the Chancellor’s 2014 budget has been designed to help savers by rewarding them with complete flexibility to save or invest as they wish.

From 1 July all ISA accounts become NISAs reports Mike Morris, Technical Manager at Origen Financial Services. This applies equally to any new accounts subscribed to and any existing accounts. Mike details the key changes below:

  • The annual allowance increases to £15,000 from 1 July – a big jump from £11,880 in the current tax year
  • Savers can choose how they want to invest their NISA – use up to the full £15,000 in either a cash NISA or a stocks and shares NISA, or any combination of amounts up to the £15,000 limit
  • Savers are able to transfer previous years’ ISA savings freely between stocks and shares and cash (previously they could not transfer from cash to stocks and shares)
  • Savers can hold cash and investments within their stocks and shares ISA, removing the need for two separate accounts (if the provider allows this)

“The NISA will reduce confusion on the amounts which can be saved in cash or stocks and shares, and more importantly giving people more flexibility to earn tax-free interest” Mike Morris.

The ISA allowance is set by tax year and is normally reviewed each year by the Chancellor. The NISA was launched 1 July to allow providers time to accommodate the new rules which were only announced in the March Budget. If savers have made any payments since 6 April 2014, these will simply be offset against the new £15,000 allowance.

Mike Morris highlights that fact that any savings within a NISA are free from Income Tax or Capital Gains Tax, so these should form an essential part of any individuals financial planning.

Origen Financial Services

Origen Financial Services is one of the UK’s leading financial advisers. An advice-led business focussed on building strong partnerships with clients and providing financial advice to private clients, small to medium sized businesses and employees of some of the UK’s largest organisations. Origen Financial Services is part of the Aegon Group.


In the UK, Aegon offers pensions, life insurance, asset management and financial advice to around 2 million customers, has assets under administration of £53.6bn, employs around 3000 employees and is a FTSE 4good listed company.

As an international life insurance, pensions and asset management company based in The Hague, Aegon has businesses in over twenty markets in the Americas, Europe and Asia. Aegon companies employ approximately 25,800 people and have millions of customers across the globe as of 31 March 2013.

Aegon is the Lead Partner of British Tennis.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Richard Jones
Visit website