Savings and Investments (Excluding Pensions) Autumn Budget 2018

Individual Savings Accounts (ISAs)

The ISA limit unchanged at £20,000.

Junior ISA

Junior ISA (JISA) limit increased by with CPI inflation to £4,368.

Child Trust Funds

Child Trust Funds also increased with CPI to £4,368.

National Savings & Investments - Premium Bonds

People other than parents and grandparents will be allowed to buy premium bonds for a child.There will also be a lower minimum investment of just £25 (was £100).

Enterprise Investment Schemes

New “Knowledge Intensive” EIS fund will be available from 2020.

• Min. 80% of the funds raised will need to be invested in “knowledge intensive” companies within two years
• Min 50% of the funds raised will need to be invested within 12 months of the fund closing
• Uninvested money must be held in cash

Tax relief will not be provided at the point of investment but will be granted in the tax year before the date the fund closes.  “Knowledge Intensive” company definition:

• Less than 500 full-time employees when the shares are issued and either:
• Develop intellectual property (IP) and expect the majority of the business to come from this IP within 10 years
• 20% of employees must carry out research for at least 3 years from the date of investment and must have a relevant master’s or higher degree.