ISA investments

Monday, 22 January 2007 01:24

ISA investments are investments in stocks and shares or cash savings that are sheltered from tax in an individual savings account (ISA).

ISAs give you the chance to save up to £7,200 a year without paying tax.

Accounts are divided into stocks and shares ISAs, where up to £7,200 can be invested, and cash ISAs where £3,600 can be saved.

The total ISA allowance for a tax year is £7,200, so if you have £3,600 in a cash ISA, only £3,600 can be saved in a stocks and shares ISA, or if £1,000 is in a cash ISA then £6,200 can be in a stocks and shares ISA.

Around 17 million people now have £287 billion in ISAs.

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