The structures of ISAs were changed in April 2008. There are only two kinds now – cash and investment. Mini and Maxi ISAs no longer exist.
Investment (or Stocks and shares) ISAs
You can choose individual shares or bonds, or pooled investments such as open-ended investment funds, investment trusts or life assurance investments. The funds available will depend on which investment company you choose to run your Investment ISA
Cash ISAs
You can invest all your money in stocks and shares, or you can split it by investing up to £3,600 in cash (the maximum permitted) and the remainder £3,600 in stocks and shares with either the same or a different provider.
You can transfer money saved in previous years' cash ISA holdings to stocks and shares ISAs without affecting your current year's allowance. But you can’t transfer in the opposite direction i.e. stocks and shares ISA to a cash ISA.
Existing ISA/TOISA and PEP arrangements after April 2008
Since April 2008, Mini cash ISAs, TESSA-only ISAs (TOISAs) and the cash component of a maxi ISA will automatically become cash ISAs. Mini stocks and shares ISAs and the stocks and shares component of a maxi ISA will automatically become Investment ISAs. All Personal Equity Plans (PEPs) will automatically become Investment ISAs.
Qualifying Investors
To be eligible to invest in an ISA, an investor must be an individual (i.e. not a company or trustee) who is 18 years of age or over. (Except 16 and 17-year-olds who are able to invest up to £3,600 in a cash ISA.) You must be resident in the UK (or are a Crown servant serving overseas or the spouse of such an individual who accompanies their spouse abroad).
If you are no longer eligible, if for example you leave the UK to live in another country, any existing ISAs will continue to be exempt from UK tax. But future contributions to regular investment ISAs must be terminated and you won’t be able to make any further single contributions.
You can open one, stocks and shares or cash ISA each tax year. A husband and wife are treated as separate individuals and so they can’t have a joint ISA but can open one each, every year like everyone else.

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