What are the different types of ISAs?
There are only two types of ISA: 1. A Stocks & Shares ISA and 2. A Cash ISA The Self-Select ISA is a Stocks & Shares ISA. The maximum you can invest in an ISA is different depending on your age: • anyone aged 50 or over on 5 April 2010 can invest a maximum of 10,200 in this tax year • those under 50 can currently invest a maximum of 7,200 in this tax year. This increases to 10,200 in the 2010/2011 tax year You can choose to invest your entire ISA allowance in a Stocks and Shares ISA or alternatively you invest up to 5,100 (if you are aged 50 or over on 5 April 2010) or 3,600 (if you are aged less than 50 on 5 April 2010) in a Cash ISA, with the remainder of your total ISA allowance invested in your Stocks and Shares ISA.
