Based on the current ISA limit being £10,200 (in 2010/11 tax year), the labour government announced that this limit would be increased annually by the previous September's RPI figure rounded to the nearest £120 (ref: http://www.hmrc.gov.uk/budget2010/march/bn28.pdf).
September's RPI figure of 4.7% has just been announced (ref: http://www.statistics.gov.uk/CCI/nugget.asp?ID=19), which equates to £479.40. The nearest £120 brings that figure to £480, so I'm assuming that next year's ISA limit will be increased to £10,680.
Based on the current ISA limit being £10,200 (in 2010/11 tax year), the labour government announced that this limit would be increased annually by the previous September's RPI figure rounded to the nearest £120 (ref: http://www.hmrc.gov.uk/budget2010/march/bn28.pdf).
September's RPI figure of 4.7% has just been announced (ref: http://www.statistics.gov.uk/CCI/nugget.asp?ID=19), which equates to £479.40. The nearest £120 brings that figure to £480, so I'm assuming that next year's ISA limit will be increased to £10,680.
Am I correct in my assumptions?