ISA'S Help 31 January 2006 at 9:09PM edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings 2 replies 1K views

florida_villa

Hi,

My Daughter who is 20yrs has £3,000 to invest, she already has a mini cash ISA which she pays in £100 per month, so this money couldn't be invested in this mini ISA as it goes over the limit.

Advise appreciated.

Thanks in advance

Susan

PS Can you have a mini & a maxi ISA

dunstonh

My Daughter who is 20yrs has £3,000 to invest, she already has a mini cash ISA which she pays in £100 per month, so this money couldn't be invested in this mini ISA as it goes over the limit.

this close to the tax year end, she could finish off this years allowance outstanding and hold the rest to next tax year.

PS Can you have a mini & a maxi ISA

No but you can have a mini cash and mini equity ISA

MPH80

Well - if she's paying in £100 a month - then she can only have paid in £1000 so far this tax year.

So therefore you could put £2000 of the £3k in the ISA without problem - just cancel the regular payment.

And no - you can't, in the same year, have a Mini-Cash ISA and a Maxi-ISA.

Personally - I'd put the £2k in - then wait until April 6th, put the remaining £1000 back in and start the £100 contributions up again.

M.