The government made changes to the annual ISA allowance so that it would increase annually in line with inflation, beginning from the 2011/2012 tax year. This means you can save even more in your stocks and shares ISA and cash ISA, protecting more of your savings from capital gains and income tax.
If you do not invest the maximum ISA allowance before the end of the tax year you will lose that allowance forever. Additionally, if you withdraw money from your ISAs but have already paid in the maximum allowance for that year, you cannot replace the funds which you have taken out.
No news, feature article or comment should be seen as a personal recommendation to invest. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment. If you are at all unsure of the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.