This year, more than perhaps ever before, it is vital for advisers to choose an Isa wisely to ensure their clients do not miss out.

That is because from 1 July the Isa allowance for the 2014 to 2015 tax year increased to £15,000 per person and the level of flexibility as to how you invest that amount also increased. The new allowance is a significant increase from the previous cash limit of £5,940 a year.

As well as save a greater amount, you are now allowed to split your money between a cash Isa and a stocks and shares Isa in any way you wish, provided your total investment for the tax year does not exceed £15,000.

This guide will tackle what a New Isa is; how to take advantage of the new £15,000 limit and how providers have changed their approach to these tax free savings wrappers.

Supporting material produced by: HM Revenue & Customs; Peter Shipp, technical director of saving schemes at the Tax Incentivised Savings Association (Tisa); Kris Brewster, head of products at Skipton Building Society; Anna Bowes, financial adviser and director of London-based Savings Champion; Andy James, head of retirement planning at Towry; and Peter Rogerson, savings and mortgages director of Virgin Money.