Individual Savings Account (ISA)
Cash ISA 60
more information
What is an ISA?
An Individual Savings Account (ISA) that gives you the opportunity to benefit from Tax Free interest on your savings.
There are two types of ISA currently available:
- Cash ISA
- Stocks and Shares ISA
As an approved ISA Manager, Chesham Building Society can offer you a cash ISA. The difference between a cash ISA and a stocks and shares ISA are:
- Cash ISA - if you are aged 16 or over, you can open a cash ISA and subscribe up to £3,600 in each tax year.
- Stocks and Shares ISA - if you are aged 18 or over, you can open a stocks and shares ISA and subscribe up to a maximum of £7,200 in each tax year.
Only one cash ISA and one stocks and shares ISA is permitted in each tax year.
You can save up to a maximum of £7,200 in one tax year, up to £3,600 of that amount can be saved in cash.
*From 6 October 2009 those aged 50 and over will be able to deposit a maximum of £10,200 into their ISA's, up to £5,100 of which can be saved in a cash ISA. This limit of £10,200 will apply to all ISA investors from 6 April 2010.
Favourable Tax Treatment
The information shown is based on our understanding of current law, ISA regulations, and HM Revenue & Customs practice at the time of going to press. Future changes in legislation and tax practice could affect this information. Current favourable tax treatment may not be maintained in the future.
Transferring your cash ISA to Chesham Building Society
To transfer a cash ISA to Chesham Building Society from another provider, you need to complete and sign a Cash ISA transfer form, available from your nearest branch.
You can take your completed form to any of our branches or post it to the following address and we'll do the rest for you: ISA Transfer Team, Chesham Building Society, 12 Market Square, Chesham, Bucks. HP5 1ER
Once we receive your transfer request, we will forward your form to your current provider to arrange the transfer. Please allow up to 30 days for your transfer request to be completed. When we receive your ISA funds from your current provider, we will write to confirm that the transfer has been completed.
