Previously, you could only transfer money from a Cash Isa to a Stocks & Shares Isa but not vice-versa.

The relaxation of transfer rules is sure to benefit those who wish to exit a share investment temporarily in the expectation of a market correction or those fed up with low cash interest rates.

Additionally under the new rules, investors can split the Isa allowance as they wish between a Cash Isa and Stocks & Shares Isa so you can make sure the weighting of your client’s tax-free investment matches their risk capacity.

Investors can also now transfer Isas between different providers as much as they like. Clearly, 2015 should not just be the year that savers move around their pension cash.

This year should also be the year advisers and their clients have a re-think about the way they utilise their Isas.

This guide will explain how New Isas should be used; ensuring you obtain the best Isa for your client; and changes to the way these savings vehicles can be passed on to a spouse on death.

Supporting material was provided by: HM Treasury; Anna Bowes, director of Savingschampion.co.uk; Peter Shipp, technical director of savings schemes at Tisa; Rhydian Lewis, chief executive of Ratesetter; David Macmillan, managing director of Aegon; and Sheridan Admans, investment research manager at The Share Centre.