A maxi ISA includes investments in stocks and shares and may also allow investments in cash and life assurance. An individual can invest up to Â£7000 in 2000/2001 in a maxi ISA and up to Â£5000 in the following years.
A tax-free saving account, where your investment can go up to £7000 every year with no tax. It entirely depends on you whether you want to invest the entire amount in shares and stocks or up to£3000 in cash savings while £1000 in life insurance investments.
Can include all three elements: stocks and shares, life insurance and cash.
An Individual Savings Account (ISA) is essentially a wrapper in which you can place your savings and investments to protect them from capital gains tax and, if you are a higher rate tax-payer, you will also enjoy a tax benefit of 22.5% on dividend income. The maximum you can invest in a Maxi ISA is £7,000 per tax year and it can contain up to two components: stocks and shares and cash.
A type of ISA which you are committing your full ISA allowance for all components to one individual ISA provider. You can only take out one Maxi ISA in any one tax year.
A tax-free savings account in which you can invest up to £7,000 each year tax-free. You can invest either the full amount in stocks and shares or up to £3,000 in cash savings and up to £1,000 in life insurance investments.
Can contain all three investment types: cash, life assurance or stocks and shares. Must contain an equity element. Maximum contribution limits apply to each element and total investment. A maxi ISA and mini ISA cannot be established in the same tax year.
A maxi ISA includes investments in stocks and shares and may also allow investments in cash and Life Assurance. An individual can invest up to £7000 in a maxi ISA. The entire ISA must be with one financial organisation. Contrast with Mini ISA.
The Maxi ISA allows an investor to save all three of the different elements of ISA investments that are allowed, with one savings institution.The three elements of ISA investment are as follows: Cash (see Cash ISA) Stocks and Shares (see Stocks and Shares ISA) Life Insurance (see Life Insurance ISA)