Sam Shire, aged 32, has already invested £4,000 into a cash individual savings account (ISA) during the tax year 2011–12. He now wants to invest into a stocks and shares ISA.

Required:
Advise Sam Shire of the maximum possible amount that he can invest into a stocks and shares ISA for the tax year 2011–12, and the tax advantages of holding stocks and shares within an ISA. (2 marks)