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Subscription limits Limitations are applied to ISAs in each tax year and these can influence both the variety of ISA of which you subscribe to and the amount of money that you can invest. As long as you are 18+ and a resident of the United Kingdom you are entitled to invest into one “maxi” ISA or two “mini” ISAs, (one for each component, please see above). These Mini ISAs can be with different providers if you so choose. If you are aged between 16-18 and a resident of the United Kingdom you are entitled to open a cash “mini” ISA or a “maxi” ISA if you invest into the cash component. Limits have been set by the government (up to and including 2007/2008), as to the amount that can be deposited into an ISA. These are set out below: Mini ISA: Cash up to three thousand pounds. Stocks and shares up to four thousand pounds. Maxi ISA: Stocks and shares up to seven thousand pounds. As previously mentioned the March 2007 Budget increased the limits for the 2008/2009 tax year and the difference between a maxi and mini ISA abolished. Therefore: ISAs now have a subscription limit of seven thousand two hundred pounds which may be invested as follows: Cash up to three thousand six hundred pounds. Stocks and shares up to seven thousand two hundred pounds. The Chancellor of the Exchequer can once again change these limits in the Budget. |
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