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ISA Rules are changing from 6th April 2008

From that date

  • The annual ISA investment allowance will be raised to £7,200
    • Up to £3,600 of that allowance can be saved in a Cash ISA with one provider
    • The remainder of the £7,200 can be invested in one Stocks and Shares ISA, with either the same or a different provider
  • ISA savers will be able to invest in two separate ISAs each tax year: a Cash ISA and a Stocks and Shares ISA. Mini and Maxi ISAs will no longer exist
  • Mini Cash ISAs, TESSA Only ISAs and the cash component of a Maxi ISA will automatically become Cash ISAs
  • Mini Stocks and Shares ISAs and the stocks and shares component of a Maxi ISA will automatically become Stocks and Shares ISAs
  • All Personal Equity Plans (PEPs) will automatically become Stocks and Shares ISAs