There is a way of getting round this. In a self-select equity ISA, you are freely able to pick which shares and funds your money is invested, and you can buy/sell at will. There are funds that are simple cash funds, and behave just like money in a savings account.
Therefore you could put your entire £7.2k into an 'equity' ISA, but actually have as much or as little of it as you want in risk-free cash funds.
Necessary caveat : Although I work in finance, I am not a financial advisor. Please seek your own advice first!
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Therefore you could put your entire £7.2k into an 'equity' ISA, but actually have as much or as little of it as you want in risk-free cash funds.
Necessary caveat : Although I work in finance, I am not a financial advisor. Please seek your own advice first!
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