What are the ISA limits?
A reader from Derby is unclear about the ISA limits.
Andrew Norton, Halifax investments expert, tackles the problem.
Alan from Derby asks:
I've never had and ISA. How much can I invest in one?
Andrew replies
Your annual ISA investment allowance is £7,200.
Of this total, up to £3,600 per tax year could go into a cash ISA and the remaining balance into a stocks and shares ISA.
Alternatively you could invest the full £7,200 into a Stocks and Shares ISA. The following table shows how your allowance could be used.
| Cash ISA | Stocks and Shares ISA | Total ISA Allowance |
|---|---|---|
| £1,200 | £6,000 | £7,200 |
| £3,000 | £4,200 | £7,200 |
| £3,600 (max) | £3,600 | £7,200 |
| £0 | £7,200 (max) | £7,200 |
You are able to invest in either a cash ISA or a stocks and shares ISA or both, but no more than one of each in every tax year.
If you have a question for Andrew, go to the myfinances.co.uk Ask the Investments Expert section
Or for more information on your investment options go to investments at Halifax.
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