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Leeds Building Society confirms NISA changes for cash savers

Savers with Cash ISAs with Leeds Building Society will be able to top these up to the new raised £15,000 annual allowance come July.

The Society welcomed the Government’s plans to changes ISA rules announced in last month’s Budget and has been working on the detail of the proposals with HMRC since that date.

“Before the Budget we had urged the Chancellor to take steps to help savers so we were delighted he significantly increased the annual ISA allowance,” said Kim Rebecchi, Sales & Marketing Director at Leeds Building Society.

“From 1st July, all Leeds Building Society Cash ISAs will accept deposits up to £15,000 for the 2014/15 financial year.”

Savers with fixed rate Cash ISAs launched before 1st July will be able to top up their 2014/15 ISA allowance to £15,000 during July, as per the terms and conditions of their product.

Savers with instant access Cash ISAs will be able to top up any time between 1st July and the end of the 2014/15 tax year in April next year.

Kim added: “We also welcomed the Chancellor’s proposed simplification of ISAs, including relaxing restrictions on transfers between Cash ISAs and Stocks and Shares ISAs, and continue to work with HMRC and other partners on the detail of how this will work.”

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Notes to Editors

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £11.2bn (as at 31 December 2013). The Society has operated from the centre of Leeds since 1886.