An Individual Savings Account (ISA) is a tax-efficient way of saving. The cash ISA is like a normal deposit account and carries low risk, whereas a stocks and shares ISA gives you the chance to invest your money in equities, bonds and commercial property, but carries a higher risk.
However, whichever type of ISA you hold you will only able to pay in the maximum amount for the each financial year no matter how much you withdraw.
For example, if you start the tax year by paying in the full £5,760 but later withdraw £1,000, despite the fact that you now only hold £4,760 in your cash ISA, you will not be able to pay in any more until the next financial year as you have already used your full £5,760 allowance.
If you would like to use the remainder of your ISA allowance to benefit from the tax-efficient savings, you can invest in our stocks and shares ISA. Find out more.
Not sure where to start? Use our tools and handy guides to help you make some investment decisions.
Why wait until you have a lump sum? Investing regularly into an ISA or unit trust means you can put your money to work straight away.
We're one of the UK's largest providers of index-tracker investments.