| How much can I invest in a Maxi ISA? |
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Under the new ISA rules - Maxi and Mini ISAs no longer exist. There is a general name of ISAs - and you can have a Stocks and Shares ISA and a Cash ISA.
In 2009/10 for those aged under 50 years, the current overall total available to subscribe is £7,200 and is fully flexible subject to an overall maximum of £3,600 in the Cash component.
In 2009/10 for those aged 50 and over, the total limit is rising in October 2009 to £10,200 and is fully flexible subject to an overall maximum of £5,100 in the Cash component
If you have an ISA account (irrespective of whether it was a Maxi or Mini from previous years) you will be shown an Available to Subscribe limit of the maximum eligible to you. This is your total annual limit (between both this and any Cash ISA you might have).
So, if you fully invest the maximum in a Cash ISA then you can only invest either £3,600 into a Stocks and Shares ISA (for those aged below 50) or £5,100 (for those aged above 50).
If you want to invest purely in stocks and shares, then you can invest the whole amount of £7,200 (below 50 years old) or £10,200 (from October 2009 for those aged 50 and over)
And, as a further example of the increased flexibility, if you wanted to invest £2,000 (for example) into a Cash ISA - you could invest the rest up to the maximum available into the Stocks and Shares ISA.
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