Maxi
versus Mini ISAs
 Between Maxi and Mini ISAs, the significant
distinction is the amount that you are allowed to deposit
into your account in a single tax year. If you require a
measure of flexibility regarding the amount you save, a Maxi
ISA will allow you to divide your investment between the
different components within your ISA, provided you do not
exceed the limit on the total amount.
For instance, if your
deposit does not reach the maximum allowed into the Cash
and Stocks & Shares components of your Maxi
ISA, the rest may be put into the Life Insurance component.
With
a Mini ISA, on the other hand, your deposit is limited
to a set amount. The amount you deposit into the other
components
does not matter in this case. For example, even if you
choose not to deposit into a Cash ISA, the £3,000 deposit
limit will still apply to the Stocks & Shares component. |
