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 

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The limit is about to drop to 5000.

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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