Maxi ISA

Maxi ISAs no longer exist, as of the 2008 budget. Maxi ISAs are instead divided into Cash and Stocks and Shares ISAs. Some aspects of the ISA described below may now be obsolete.

You can choose to invest in either a maxi ISA or a mini ISA in each tax year. There are three components to the maxi ISA:

  • Cash
  • Shares
  • Insurance

To go back to our box, which is protecting your investments from the taxman, think of the maxi ISA as a big box that can have three different things inside it. You can choose to put just one of the three in, or two or all three.

So whatever you decide to invest in this ISA, you can only have one manager or Provider If you want to include all three different elements, there are limits on each within the annual allowance that you have to stick to.

See our Tax Guide for details.

You can invest all your allowance in shares in a maxi ISA however if you choose to invest only cash or insurance, you have to keep within the limits. See tax guide for this years' allowances.

If you have larger sums to invest and want to get involved in the stock market then the maxi ISA is probably the best one to choose. You can either choose to have an index-tracking ISA that follows a particular index, have one where a fund manager chooses the shares, or you can choose the shares yourself in a Self-Select ISA.

Below are links relating to Maxi ISAs:

ISAs are flexible, tax efficient way to invest. Once you have used up your ISA limits, you could consider other types of collective investments. Visit www.Investments.co.uk/Collective Investments for more information.

 

UK Investments - Financial, Property & Other Investments - 1998-2008

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