ISAs

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Individual Savings Accounts (ISAs)

Maxi or Share ISAs
Company	Package Name	Notes	Minimum Balance	Account Access	Notice Period
	Actively managed ISA	Managed by a professional fund manager	£500	Internet	5 years initially
	Income ISA	Provides a regular income	£500	Internet	5 years initially
	Self Select ISA	0% annual admid fee	£3600	Internet	Minimum 5 years
	Climate Change Fund	Invest in environmentaly friendly shares tax free	£500	Internet	Instant
	Ethical ISA	Invest in ethical shares	£500	Internet	5 years initially
	Index-Tracking ISA	Tracked in line with a market or sector	£500	Internet	5 years initially
	Cash Trust in an ISA	Only available as the cash part of maxi ISA.	£500	Internet	5 years initially

What is an ISA?

An ISA (Individual Savings Account) allows you to invest up to £7000 (rising to £7600 on the 1st April 2008) each year tax free.

There are two types of ISA:

Cash ISA - You can invest up to £3000 (rising to £3600 in April 2008) in cash each tax year.
Maxi or Share ISA - You can invest up to £7000 in shares (£7200 in 2008).

You can invest up to £7000 (£7200 April 2008) tax free in cash, shares or a combination of both.

You can take advantage of tax breaks to earn more than you would with a standard savings account. Read our guide which compares ISAs and standard savings accounts.

With a maxi or share ISA, you’re not guaranteed a return on your investments each year. They should be seen as a long term investments.
Ensure that you take your full allowance each year. Once the year is over you lose the potential gains that the extra allowance would have afforded you.
Try not to withdraw money from your ISA, as you’re not able to re-invest once you’ve made a withdrawal.

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