Now everyone who's aged 16 and over can put a new £15,240 into a cash ISA a savings account where you never pay tax on the interest.
The best rates pay up to 1.9% and the earlier you save the more you'll earn. Don't worry if you've opened one in previous tax years, you can open another with whichever provider you choose. And if the rate is poor on your old ISA you can transfer it to the new one.
Important: The Bank of England cut the base rate to 0.25% on 4 August. This is likely to mean savings rates will fall further, so it's a key time to review your savings & ditch poor-payers. If applying for an account, double check the rate and be warned variable rates could yet drop even from that on application. Existing customers on variable deals should also check their rates for drops.
Best cash ISAs 2016/17
If you don't use it, you lose it.