Tax-free saving accounts

Your current Cash ISA may have started out on a great rate but are you sure you’re still getting a good deal?

With a Cash ISA (Individual Savings Account) you can save up to £5,340 tax-efficiently each tax year. There are 2 types of ISA to think carefully about; Cash ISAs and Stocks and Shares ISAs. To find out more download our free ISA guide. See our ISAs explained section to help you understand ISAs and the different savings limits.

ISA Accounts
ISAs Explained
Types of ISA
Transferring ISA allowances

View our ISA range

How to apply

To make the most of your tax free savings allowance simply apply in branch or over the phone and we’ll do the rest:

Call 0845 1200 100 or
visit your local branch today

ISAs Explained

An ISA is a special type of account in which every eligible adult can save and invest tax-efficiently each tax year. Currently, the limit is £10,680 (£5,340 in a Cash ISA).

You will benefit from tax-free interest if you choose a Cash ISA. Although Stocks and Shares ISAs are tax-efficient, they are not completely tax free.

The information below is based on current legislation.

Investment limits

Investment limits from 6 April 2011 Cash Stocks & Shares

Amount you can invest
Up to £5,340 with one provider

Up to £10,680 with the same or another provider

Minimum opening age
16

18

Investment limits from 6 April 2011	Cash	Stocks & Shares
Amount you can invest	Up to £5,340 with one provider	Up to £10,680 with the same or another provider
Minimum opening age	16	18

Investment examples

	Example 1	Example 2	Example 3
Start of tax year (from 6 April)	You can save £5,340 in a Cash ISA	You save £2,340 in a Cash ISA	Set up £750 monthly Direct Debit into a Stocks and Shares ISA = £9,000 invested over the tax year
During the same tax year	You can invest £5,340 in a Stocks and Shares ISA	You can save another £3,000 in the same Cash ISA plus you can invest £5,340 in a Stocks and Shares ISA with another provider.	You can save £1,680 into a Cash ISA with another provider
Total Invested	£10,680	£10,680	£10,680

Eligibility for ISA accounts

To qualify for one of our Cash ISAs, you must be aged 16 and both resident and ordinarily resident for tax purposes or be a qualifying Crown employee or married to, or in a civil partnership with, a qualified crown employee.
Your right to cancel ISA accounts

If you open an ISA and then change your mind within 14 days, you may cancel your subscription and we will give you your money back with any interest it has earned. We will not apply any notice period or charge. You can then open another ISA in the same tax year if you wish.

Should you wish to cancel your subscription within this period, please write to the branch or agency where you opened your account or call 0845 1200 300

Types of ISA

Yorkshire Building Society Cash ISAs

Our Cash ISAs are designed for money that you may wish to access in the short or medium term to suit different needs.

And don't forget that once you've invested up to your maximum allowance for the tax year, we have other savings options for your short and longer-term savings goals.
Stocks and Shares ISAs

These types of ISAs are best suited to money you can leave untouched for at least five years or more. Stocks and Shares ISAs are available through our association with Legal & General. To discuss your needs with a Legal & General consultant, book an appointment online now or contact your local branch.
Stakeholder Standards
These are guidelines set by the Government to make it easier for you to identify simple, low-cost savings products.

For example, for a Cash ISA, Stakeholder Standards mean:
- There are no account charges
- The minimum investment is not more that £10
- Withdrawals can be made in 7 working days or less and there is no limit on the number of withdrawals.
- They provide a variable interest rate guaranteed to be no lower that 1% below the Bank of England base rate.
None of the ISA's the Society provides or the ISA available through the Protected Capital Account offered in association with Credit Suisse International currently meets the Stakeholder Standards. However, a Stakeholder Standard ISA may not necessarily be more suitable than a non-stakeholder standard ISA. It simply shows that the product meets all of the Government's criteria. Please contact us if you are unsure which ISA is right for you.

Transferring ISA allowances

You can transfer some or all of your money saved in Cash ISAs in previous tax years into a Cash ISA and/or Stocks and Shares ISA without affecting your annual ISA allowance.

You can also transfer money saved in a Cash ISA for the current tax year into different ISAs with the same or a different provider, although you can only hold one of each type of ISA for each tax year.

If you choose to transfer your Cash ISA for the current tax year into a Stocks and Shares ISA, you must transfer the whole amount saved in that tax year. You can then save up to the remaining balance of your ISA allowance in the same Stocks and Shares ISA, or you could open a new Cash ISA.