Changes to the ISA (individual savings account) regime have been announced this month. For those interested....People with cash accrued in ISAs from previous years will, in future, be able to transfer it into new stocks and shares ISAs. Savers who do this would still be able to invest a further Â£7,000 a year in their ISA. This will probably take effect from 2007/08 tax year but yet to be confirmed - we can expect to hear more in the pre-Budget report on 6 Dec. At present, investors can put the full Â£7,000 annual allowance into a stocks-and-shares maxi ISA. Alternatively they can take out two mini ISAs -up to Â£3,000 can be invested in cash and the remaining Â£4,000 can be invested in equities. The new rules will scrap the mini and maxi elements so that there is just a single ISA wrapper. Investors will be able to switch any money they have in cash ISAs into equities but they will not be able to do the reverse, a move which some experts believe is back-to-front as it does not take account of those saving for retirement who may want to move their investments into cash - oldies beware. ISA rules will continue to allow you to make withdrawals without losing the tax relief. But once you have deposited the maximum Â£3,000 allowance into the account in a tax year, you cannot deposit any more money in the account that year, regardless of how much you have withdrawn. If you would like any more info on ISAs or if you are just having trouble sleeping then let me know and I will be happy to post more.