ISA limits - cash Vs shares elements - quick query

[mccrackenj]

I know that the cash limit for 12/13 is £5,340 and the overall limit is £11,280 - BUT do I have complete freedom within this to have as much in each element as I want, subject only to the £5,340 cash limit?

In other words, can I have, e.g. £1,000 in a cash ISA and £10,280 in shares - or does the act of putting even £1 into a cash ISA mean that my cash limit of £5,340 is 'triggered' and therefore my shares element is limited to £5,340 too?

I normally don't get to anything like my limits but this year I might rearrange things so it might be relevant. I've looked at a couple of on-line guides but they're not clear on this.

Ta muchly

[V8mate]

You mean 11/12, right?

[CaptainSensib1e]

ISA limit is £10,680 for this tax year, £11,280 next tax year.

Up to half can be invested in a Cash ISA, the balance (with the overall limit) in a Stocks & Shares ISA.

This tax year you can save up to £5,340 in a Cash ISA
Next tax year you can save up to £5,640 in a Cash ISA

[Noble Anonymous]

To answer your question (I think) subject to the limits you can do as you ask. That is put £1000 into a cash ISA and the balance in a Stocks and Shares ISA.

I have put roughly 50:50 before and then transfered from Cash to Stocks and Shares which is allowed. However, you cannot do this in reverse FYI.

HTH.

[mccrackenj]

V8mate said:

You mean 11/12, right?

no, I mean 12/13 - I meant £5,640, not £5,340 cash limit. Sorry!

What I am asking is - can I do whatever I want re the balance of cash Vs shares within the overall £11,280 limit with the only restriction being that the cash element must not exceed £5,640?

Edited by mccrackenj on Wednesday 28th March 14:40

[onedsla]

Yes, you can put any amount from £0 - £5640 into cash and whatever is remaining into stocks & shares up until the limit of £11,280.

[mccrackenj]

onedsla said:

Yes, you can put any amount from £0 - £5640 into cash and whatever is remaining into stocks & shares up until the limit of £11,280.

That's the answer I need. Cheers.