Time to get up to speed with NISA

The changes to the ISA in the last Budget converted it into the New ISA or NISA with effect from July.

So far, a survey cited by the Daily Mail shows the majority of savers don’t understand the new rules and even many of those who do don’t think they’re going to be making use of them.

It’s not surprising most people haven’t yet ‘got’ the NISA. The key is the ability to switch back and forth between cash and other forms of investment without any of the old restrictions. That will be really useful to people who want to generate more income from their capital. And, of course, the annual contributions limit is increasing to £15,000 from July.