Product Profile
ISAs
An ISA is a ‘wrapper’. Inside this wrapper, you can place different investment components without having to pay tax on the investment growth. You can hold two kinds of component within an ISA: cash and stocks and shares.
In April 2008, the Government made a commitment to the future of ISAs as a savings tool, simplifying the rules relating to them and increasing the amount you can invest tax free. Since April 2008, you can choose between two types of ISA. These are now called the Stocks and Shares ISA and the Cash ISA (Maxi and Mini ISAs no longer exist).
- Stocks and Shares ISA: you can invest up to £7,200 each tax year in a Stocks and Shares ISA.
- Cash ISA: you can invest up to £3,600 each tax year in a Cash ISA
Aberdeen does not offer a Cash ISA. You can choose to invest your full ISA subscription limit of £7,200 in a Stocks and Shares ISA with Aberdeen, or invest part of your ISA allowance with us and part in a Cash ISA with another ISA manager. If you have a Cash ISA with another manager, the combined total amount you can invest between both ISAs is £7,200.