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ISA - Individual Savings Account Guide

An ISA is an Individual Savings Account. Introduced by the Government in April 1999, ISAs are a tax efficient method of saving and investing up to 7000 for individuals in the UK. Before ISAs, a similar system existed called PEPs.

There are three investing vehicles within an ISA wrapper: You may invest in Cash, Shares and Insurance. There are also two types of ISA: a Mini or a Maxi ISA, the difference being the amount and permutations of investment allowed in each of Cash, Shares and Insurance.

The government is trying to encourage individuals to invest in the stock market and as such you may use your entire ISA allowance of 7000 in each tax year for this purpose.

A Mini ISA allows an individual to invest up to the following amount in each investment vehicle for each tax year:

Cash3000
Shares3000
Insurance1000


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