Individual Savings Accounts (ISAs)

Further information about the changes after 6 April 2005

I already hold an ISA Insurance policy. Can I continue paying into it?

Yes, but only if you do not also pay into another ISA component of the same type with a different ISA manager. For instance, if your policy falls in the Mini stocks and shares component you can only continue paying into it if you do not also invest in another Mini stocks and shares component with a different manager.

If you do, then you will have two Mini ISAs of the same component. One of them could become void, and if this is the component containing the insurance policy then that policy will have to end.

In most cases your ISA insurance policy will be a Mini ISA stocks and shares component, but this is not always the case. If your insurance policy qualifies as a Mini ISA cash component, you cannot hold another cash component with another ISA manager. You must check with the ISA manager who sold you the insurance policy.

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