In the past, there were three types of ISA -
Maxi ISA - You could invest up to £7,000 per tax year, either putting the whole amount into stocks and shares, or splitting between cash and stocks and shares, with a maximum investment of £3,000 allowed in the cash component
Stocks and Shares Mini ISA - You could invest up to £4,000 per tax year
Cash Mini ISA - You could invest up to £3,000 per year
But now there are just two types:
As of 1st July 2014, all eligible savers can invest up to £15,000 in an ISA - all of this can held in a cash ISA or astocks and shares ISA, or it can be divided between the two types of ISA.
ISAs, like Mini ISAs used to, allow you to save cash or invest in shares without incurring income tax or capital gains tax on the investment or the interest it generates.
Click on the link below to see our top ISA deals in an easy to use comparison table: