Individual Savings Account

In the UnitedKingdom, an Individual Savings Account ( or ISA ) is effectively a tax free wrapper, allowing the named individual tax exemptions on the ISA's contents.

There are two types of ISA's; the Maxi ISA and the Mini ISA. The Maxi is up to 7000 and can consist of up to 3000 in cash, and/or 1000 in insurance and the remainder (or all as is common) in Equities. There are 3 types of mini ISA's - 3000 in cash, 3000 in equities and 1000 insurance.

In any given tax year you can open *ONE* Maxi *OR* a combination of mini ISA's

The limit is about to drop to 5000.

Hmmm. Where are you guys thinking of investing over the next year. I'm thinking of the Framlington Health fund, or the Schroders Medical Discovery fund... Jasvinder Singh