There are a number of issues to consider when choosing an ISA.

First decide whether you want to use all of your allowance to invest in the stock market, or whether you want to put some into a cash ISA as well.

This decision will then dictate whether you should choose a maxi or a mini ISA. As a general rule, minis are the way to go if you want a cash ISA, and a maxi is the obvious choice if you are going solely for stock market investment.

Before deciding on a stocks and shares ISA, consider these points:

• Stock market investments need time, preferably at least five years. If you will need your money much sooner than that, it is better to keep it in cash.
• Choose an ISA that fits in with your existing portfolio, if you have one. If not, go for one that spreads your money fairly widely.
• It is advisable to start with a general fund, rather than a specialised one. Depending on how much you are investing, you can split your money between several different funds under one ISA.
  
• You are investing in pounds, so it makes sense to have at least half of your money in the UK.
• Index trackers are a good starting point for stock market investment if you do not get advice or do not do your own research. Another alternative is a big international investment trust.
• Branching out to higher risk areas is something to think about when you have a solid investment base in place. Higher risk equals higher potential rewards, but greater ups and downs.
• Your investment strategy needs to be adapted over time. Younger people with a long time horizon can take greater risks. As you approach retirement, you may need to restructure, and think about converting some growth investments to ones that produce income.