Amount

• An individual can save up to £10,200 in ISAs each tax year defined as beginning on April 6 to the following April 5. The entire £10,200 may be placed in a stocks and shares ISA. The maximum limit for a cash ISA is £5,100. If a plan participant makes this cash investment he can only invest the remainder of his allowance in a stocks and shares ISA. The investor can hold both a cash ISA and a Stocks and Shares ISA from the same provider of different ones. The ISA limit rises in line with inflation in the UK.
  
  

Withdrawls

• An individual is permitted to withdraw his investment at any time. However, withdrawals count against the individual's allowance for that tax year. For instance, if a plan participant invests £3,000 in a cash ISA and subsequently withdraws £2,000, he can only invest a further £2,100 during that tax year into the same ISA. Be advised that some ISAs run for a fixed period or require notice of withdrawal and you may lose some interest or a bonus if you withdraw earlier than the terms of the agreement. Often such "locked-in" ISAs offer better interest rates in return for the investment.
  
  

Transfer

• An individual is permitted to transfer all or some of their ISA money from previous tax years into an alternative ISA. However, if an individual wishes to transfer between ISAs in the same tax year, the entire investment must be switched. The investor can transfer capital from a cash ISA into either another cash ISA or into a stocks and shares ISA. However, a stocks and shares ISA can only be transferred into another stocks and shares ISA. Be advised that you must ask the ISA provider you wish to switch to to effect the transfer. If you withdraw money yourself you will not be able to invest it with another provider and you will lose part of your subscription allowance for the tax year, depending on how much you withdraw.
  
  

Other

• An individual is only allowed to hold one cash ISA and one stocks and shares ISA per tax year. To invest in a cash ISA this person must be 16 years of age or over; to invest in a stocks and shares ISA an individual must be 18 years of age or over. Plan participants must be a resident or normally a resident in the UK for tax purposes to hold an ISA. A Crown employee, for instance a diplomat or a member of the armed forces, who is working overseas and is paid by the UK Government, can hold an ISA.