Cash ISAs are available to UK residents who are over 16 years old. You can save up to £5,940 in a Cash ISA until 30 June 2014. From 1 July 2014 the total ISA allowance will increase to £15,000 (inclusive of any deposits placed from 6 April until 30 June 2014) for the remainder of the 2014/2015 tax year, and can be held entirely in cash, stocks, or a combination of both. The interest you receive on your ISA isn’t subject to UK income or capital gains tax so it’s a very tax efficient way to help your savings grow.
If you already pay into a stocks and shares ISA, this may limit the amount you can save in a cash ISA.