Questions regarding ISA's?

[Brando_#1]

What is an ISA.

Can I have �3500 in an ISA?

Who have the best ISA's available.

If I put in �3k this year, does that mean I can put in another �3k next year, does that mean I get interest on �6k.

Thank you.

[BigMac]

1. An Individual Savings Account. You can invest a maximum of �7k in an ISA in any one tax year. This full amount can only be in a stocks and shares ISA, investing in the stockmarket via individual shares, unit trusts, open ended investment companies or investment trusts (I may have missed a category or more).
   You can instead invest in MINI ISAs - a mini stocks and shares ISA to a maximum of �4k and a mini cash ISA, to a maximum of �3k, in a single tax year.


2. Yes - but in any one tax year it could be either all in a stocks and shares ISA or split between a mini stocks and shares ISA and a mini cash ISA.


3. Depends on the type of ISA in which you invest. All the Sunday broadsheets carry best buy tables for each type of ISA, or you could look online (just type in Google for ISAs and best buys).
   But beware of cash ISAs that have a special introductory rate, which may be limited to a few months.


4. Yes and yes.