How much can be invested in an ISA

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How much can be invested in an ISA

The level of money that can be invested in an ISA usually changes with the budget. Any savings or investments must be made by the end of the tax year (April 5th).

From 2008, from 6 th April onwards, up to £7,200 can be invested in an ISA each tax year – provided the individual is over the age of 16. Of this, £3,600 can be invested in cash with one provider. The remainder, up to £7,200, can be invested in stocks and shares with either the same provider, or a different provider.

Maxi ISA Limits

This product no longer exists – the 2008 Budget ruled that Maxi and Mini ISAs would be replaced. Now, ISAs are either Cash ISAs or Stocks and Shares ISAs.

The cash component of a maxi ISA will automatically become a Cash ISA, while the stocks and shares component of a maxi ISA will automatically become a Stocks and Shares ISA. ISA savers can move money between their Cash ISA and Stocks and Shares ISA.

Old Maxi ISA Limits were as follows, but these limits no longer apply:

• Up to £3,000 in the cash component
• Balance up to £7,000 in the stocks and shares component (including life insurance products)
• You can only invest with one ISA manager each tax year.

Mini ISA Limits

This product also no longer exists, as the 2008 Budget replaced Maxi and Mini ISAs with Cash ISAs and Stocks and Shares ISAs. Mini cash ISAs become Cash ISAs and Mini stocks and shares ISAs become Stocks and Shares ISAs.

Old Mini ISA limits were as follows, although these limits no longer apply:

• Up to £3,000 in the cash component
• Up to £4,000 in the stocks and shares component (including life insurance products)
• A different ISA manager can be chosen for each component.