An ISA, or Individual Savings Account, is a relatively new investment option that is backed by the government. There are many aspects to consider before deciding to take on the financial commitment of an ISA, and one of the most common questions about this type of account is how much can be invested. Good news for you, the government has been offering incentives to individuals to invest in this type of account by extending the limit on the amount you can save tax free.

However, the amount in which you can invest will of course depend on several factors. Depending on your unique situation, you can save more or less. First is age, if you are under the age of fifty, you can save less in a tax year than if you are over fifty.

A crucial fact to take note of is that it is important for an individual to use all of their yearly allowance before the financial year is up as it will not be transferred over into the next year. If you do this every year, you can save a considerable amount of money from taxes. Be sure to also track down the best ISA rates available.