New ISAs. Since 1 July 2014 individuals have been able to invest in the new style ISAs, known as NISAs. They have two advantages over their predecessors:

  • the maximum per tax year you can invest is £15,000. If you have invested in an old style ISA since 5 April 2014, the amount you can put into a NISA for 2014/15 is reduced accordingly
  • investments in stocks and shares NISAs can be wholly or partially transferred to cash NISAs and back again.
You can now invest in new style ISAs, known as NISAs. Advantages include a greater annual investment of up to £15,000 and the right to switch from stocks and shares investments to cash, and back again.