Each tax year you have an ISA allowance, for the tax year 2014/2015 (6 April 2014 until 5 April 2015) your allowance is £11,880. You can save up to £5,940 in a cash ISA with the remainder in a stocks & shares ISA, or, you can invest your full allowance in a stocks & shares ISA.
The Government has proposed changes meaning that from 1 July 2014 the 2014 / 2015 ISA allowance will be increased from £11,880 to £15,000. Under the new rules, you'll also be able to split your £15,000 ISA allowance as you wish between a cash ISA and stocks & shares ISA.
Find out more about what's changing from 1 July