The advice and/or guidance contained within this site is subjected to the UK Regulatory regime and is therefore targeted at consumers based in the UK.

Please be aware of the following risk warnings:

The past performance of an investment is not a guide to its future performance.

The value of investments, and any income from them, may go down as well as up and is not guaranteed. An investor may not get back the amount originally invested.

Tax reliefs are those currently available and are subject to change.

If the funds you invest in hold securities in a currency other than sterling, exchange rate fluctuations may affect the value of your overall investment.

McQuistin Financial is an Appointed Representative of Sesame Ltd. which is authorised and regulated by the Financial Services Authority. Sesame is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150427.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Individual Savings Accounts (ISA's).

Individual Savings Accounts - ISA's

With an ISA you can save up to £7,000 each year and not pay tax on the income you receive from it.

Types of ISA - Mini ISA, Maxi ISA

An ISA can be made up of an investment in cash, or stocks and shares or insurance. In each year you can invest in one Maxi ISA, which can include all of the above investment types, or you can have two Mini ISAs – 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.

Investment limits

Mini ISA

There are two types of Mini ISA - a cash ISA, and a stocks and shares ISA. The amount you can invest in each tax year (6 April to 5 April ) is fixed. You can invest up to

• £3,000 in a cash ISA, and
• £4,000 in 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.

Maxi ISA

A Maxi ISA can include both cash and stocks and shares. However, whichever way your investment is split, it counts as one Maxi ISA. So you can only open one Maxi ISA in each tax year.

The total amount you can invest is £7,000 each tax year (6 April to 5 April).
You can invest up to £3,000 of this as the cash element.

Tax benefits of ISA's

• No tax paid on the income you receive from your ISA savings and investments
• No tax paid on capital gains arising on your investments
• You can take your money out at any time
  (some types may have a notice period)

Transferring an ISA

You can transfer your ISA from another ISA manager. The type of ISA must be the same.

Your ISA must be transferred directly between fund managers.
Ask your existing ISA manager to arrange the transfer. Check the terms and conditions with your current ISA manager to find out if you will be charged for transferring.

You cannot arrange a transfer yourself by closing the first ISA and paying the money to another ISA manager.

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