ISA rules.

fmonkey

Please could someone help to understand next years ISA changes.

Am I correct in saying that they are doing away with the mini and maxi distinction?

I understand that you can put a maximum of £3600 in cash and the rest (another £3600) in stocks and shares.

But could I therefore put say £1500 in cash and £5700 in stocks and shares.

I say this as if you have two different providers for each aspect who would regulate your limits? Will it be self regulating?

Jonbvn

FM,

I believe you are correct, as detailed in this article at the BBC.

agal

As far as I know, everything you say is correct. In addition currently held cash ISAs can be transferred into S&S ISAs (but not vice versa). As to your last point I presume it will depend, as now, on tracking an individual's Nat Ins number so overpayments would eventually show up on HMRC computers.