UK Invest: What is a mini ISA? What is a maxi ISA?

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You can invest in one Mini Cash ISA and one Mini Stocks and Shares ISA in each financial year. The maximum amount you can invest is fixed for each component. For 2007/8 it is £3000 for a cash ISA and £4000 for a stocks and shares ISA. If you are averse to risk or only want a cash ISA, products from a building society or bank may be your best option.
An advantage of a Mini ISA is that it provides greater flexibility. For example you could invest in a Cash ISA with a building society and a Mini Stocks and Shares ISA with a company that specialises in equities.
Follow this link for a more detail on Components.

You can only invest in one Maxi ISA in each financial year but your investment can be in up to two different components (Cash and Stocks & Shares). A Maxi ISA must have a stocks & shares component but the cash component is optional. A maximum sum can be invested and can be divided between the two components in whichever way you wish, subject to the limits set by the Treasury. For 2007/8 these are an overall limit of £7000 and a cash limit of £3000. So if you have £7000 to invest you could have a Maxi ISA comprised of just stocks & shares; or cash of £2000 and £5000 stocks & shares; or £3000 cash (max) and £4000 stocks & shares etc.. Back....