mini isa's

[Sasha13]

Hi - I know the maximum that you can put into an ISA is �3,600.

When I get to say, �3,500 in my ISA (of which imagine �100 is interest that has been paid so far) can I only pay in another �100 so the total including interest is �3,600 or can I pay in another �200 as �100 of the �3,500 that's in there is interest, i.e. I didn't pay it into the account, my bank did??

Hope this makes sense!!

[factor-fiction]

The interest doesn't count towards the �3600 limit. You can put in �3600 new money into one ISA in the tax year.

[Jugglering]

You can invest up to �3,600... don't worry about the interest, as you say the bank/building society add that (tax free), so you end up at the end of the year with �3,600 + interest... the following year you can add a further �3,600. If you withdraw any money though, you cannot add this back in if you have already invested your maximum annual investment of �3,600.

[Sasha13]

Thanks very much for your answers.

[tinkerbell87]

Hi- ive worked with mini isas for 4.5 years! Your interest does not count as a contribution

You can add �3600 of your own money and any interest credited to your isa goes ontop of that and isnt counted!!

ie: you could go with a lump sum of �3600 and add that in.

Hope that makes sense!!!!

Tinkerbell