UK Invest: Individual Savings Accounts (ISAs')

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Individual Savings Accounts (ISA's) are tax-free Savings accounts which means individuals do not have to declare any income or capital gains they receive to the Taxman. Individuals can save up to a specified sum each financial year. (A financial year runs from 6th April until the 5th April the following year).
An ISA can be made up of an investment in cash, or longer term investments like stocks and shares or insurance. In each year you can either invest in one Maxi ISA, which can include all of these types of investments, or you can have two Mini ISA's – one for cash and one for stocks and shares, which can both include insurance.
You cannot invest in both a Mini

ISA and a Maxi ISA in the same tax year.
There are two types of Mini ISA - a cash ISA, and a stocks and shares ISA. You cannot invest in more than one Mini cash ISA, or more than one Mini stocks and shares ISA in the same tax year but you can open each ISA with a different ISA manager if you prefer.
A Maxi ISA can include both cash and stocks and shares. However, whichever way your investment is split, it counts as only one Maxi ISA.
You can invest a greater sum on a stocks and shares in a Maxi ISA than you can in a Mini ISA.
Check out this link to HM Treasury for more details including advice of current limits.