ISAs

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4. The different kinds of ISA: Maxi, Mini and Tessa-only

We've seen that there are different components of ISAs. There are three kinds of ISAs, and there are strict rules about which components can go in which kind of ISA.

1. Maxi-ISAs
   • Must offer a stocks & shares component
   • May offer a cash component as well
   • Are administered by a single manager
2. Mini-ISAs
   • Must offer only one component
   • Can offer either stocks & shares or cash
3. TESSA-only Cash ISAs (TOISAs)
   • Can accommodate the capital but not the accumulated interest from matured TESSAs
   • the capital transferred can be as much as £9,000

1. What is an ISA? 2. Who can take out an ISA? 3. ISA investments: the 'Components' 4. The different kinds of ISA: Maxi, Mini and Tessa-only 5. How many ISAs can you have? 6. How much can you put in an ISA? 7. Maxi or Mini? 8. Tax rules on ISAs 9. Practical significance of ISA tax rules 10. Cash ISAs 11. Stocks & Shares ISAs 12. Choosing an ISA fund 13. Buying an ISA 14. Charges and CAT standards 15. Where to find an IFA 16. Switching ISA investments 17. Transferring shares into an ISA 18. Withdrawing funds from an ISA 19. Conclusion

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