ISAs

6woody7

Is there any difference between a cash Isa and an Isa?

Lokolo

Not really...

If banks say they are offering an ISA, its usually Cash ISA. There is Stocks and Shares ISA as well but these are usually more noticeable.

If you have found one and you aren't sure, just post it on here and we'll tell ya.

Baldur

6woody7 wrote: »

Is there any difference between a cash Isa and an Isa?

ISA is the generic name - there are two types of ISA, Cash ISAs and Stocks & Shares ISAs, see http://www.hmrc.gov.uk/leaflets/isa-factsheet.htm

whu

You can put £3600 into a cash ISA and £3600 into a S&S ISA in any financial year or £7200 into a S&S ISA

Jonbvn

whu wrote: »

You can put £3600 into a cash ISA and £3600 into a S&S ISA in any financial year or £7200 into a S&S ISA

The rules have changed to make it slightly more flexible. If you reduce the amount in your cash ISA, you can increase the amount in your S&S ISA by the corresponding amount. Therefore, each year you could put say £2000 into a cash ISA and the remainder of your allowance £5200 into a S&S ISA.

Yoiu can transfer your cash ISA to a S&S ISA, but not vice versa.