Individual Savings Accounts (ISAs)
Individual Savings Accounts (ISAs) help you save tax. This guide gives you some handy tips to enable you find the right ISA.

   Types of ISAs - the Maxi ISA

A Maxi ISA allows you to invest up to the full £7,000 allowance.

You can invest up to £3,000 in cash, up to £1,000 in life insurance, and up to £7,000 in stocks and shares.

Could be suitable for:

Somebody with larger sums to invest, who also has a knowledge of the stock market.

Important warnings:

  • Once you have opened a Maxi ISA account you are stuck with it. You cannot open another type of ISA with another provider during that financial year.

  • Putting the whole £7,000 into shares is a common practice with the Maxi ISA. But under the current rules you cannot change this balance and switch between say share investments and cash in the future.


     
     

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