individual savings account

(redirected from Maxi ISA)

individual savings account (ISA)

a SAVINGS scheme introduced by the UK government in 1999 to replace PERSONAL EQUITY PLANS which allows investors to secure tax-free interest and capital gains. ISAs provide for a maximum investment of £7000 per tax year. Initially, ISA investment was limited to stocks and shares growth and income funds. More recently, under ‘mini ISA’ rules up to £3000 can be invested in a mini stocks and shares ISA, up to £3000 in a mini cash ISA and up to £1000 in a mini insurance ISA. In the case of ‘maxi ISAs’ the above allowances still apply with the exception that it is possible to invest all £7000 in stocks and shares. See PORTFOLIO, TRACKER FUND.

individual savings account (ISA)

a SAVINGS scheme, introduced by the UK government in 1999 to replace PERSONAL EQUITY PLANS, that allows investors to secure tax-free interest and capital gains. ISAs provide for a maximum investment of £7,000. Initially, ISAs covered only stocks and shares but have been extended to include other assets, specifically cash and insurance. Under ‘mini ISA’ rules, up to £3,000 can be invested in a mini stocks and shares ISA, up to £3,000 in a mini cash ISA and up to £1,000 in a mini insurance ISA. In the case of ‘maxi ISAs’ the above allowances still apply with the exception that it is possible to invest all £7,000 in stocks and shares. See PORTFOLIO, TRACKER FUND.
References in periodicals archive ?
A Mini ISA could hold cash or a single holding of shares while a Maxi ISA could hold cash and stocks.
Allowances now are pounds 7,000 in a maxi ISA or pounds 3,600 in a mini cash ISA and pounds 4,000 in a stocks and shares ISA.
A YOU can either put up to pounds 7,000 in a Maxi ISA investing in stocks and shares or up to pounds 4,000 in a mini stocks and shares ISA and up to pounds 3,000 in a mini cash ISA.
A YOU can either put up to pounds 7,000 in a maxi ISA or up to pounds 4,000 in a mini stocks and shares ISA and up to pounds 3,000 in a mini cash ISA.
Alternatively, you can put the entire pounds 7000 into a maxi ISA, run by a single manager, that is entirely equity-based or that includes up to pounds 3000 in cash.
here are two types of ISA, a Maxi ISA and a Mini ISA.
with Simon Rowles of Weston Financial GroupQ: Is it possible to invest a Maxi ISA in a Property fund?
I didn't want to do that,'' Angela explains, ``so I opened a maxi Isa and started putting in the maximum contribution of pounds 7,000.
AIf you haven't used up your allowance this year for an Individual Savings Account (ISA) then it may be sensible to look at a corporate bond Maxi ISA.
Of those planning to open an ISA, one in three said they would opt for a stocks and shares mini or maxi ISA, compared with 31 per cent at the same time last year.
You could utilise your entire pounds 7,000 in a maxi ISA or alternatively put pounds 3,000 into a mini corporate bond and pounds 3,000 in a cash ISA.