Back from my holiday, did you miss me?

So here I am back again after the summer break, did you miss me? No? Never even realised I'd gone?

I had a great one in France and Spain and hope you managed a decent holiday. 

Talked to quite a lot of Spanish people and generally they were pretty gloomy about their economic outlook. 

Still, it didn't seem too bad to us around the tourist areas at least. 

So we must talk about one massive change in the markets since I've been away. 

Yes! At last AIM shares are now allowed in tax-free ISAs. And, even better, from the next tax year no stamp duty either.

Whoo hoo! 

Great news for me. In the past I've spotted various small companies that could become big but I couldn't buy them tax free. 

Remember without an ISA once you've made more than around 10 grand the Government demand a slice of your profits in capital gains tax. 

With an ISA they can't get their hands on any profits. You can put in around £11,500 a year and build as much profit as you like. If you find a small AIM company that becomes a giant, having it in an ISA will save you a fortune in tax. 

Can you imagine if you'd bought Asos a few years ago and held it tax free? Wow! Well, now you can. 

The downside of AIM shares is that they are not so highly regulated and often their shares aren't that liquid so they are hard to buy or sell. 

Not being highly regulated means there is a lot more chance something could quickly go badly wrong or, quite simply, the directors could be toe rag liars.

Sometimes AIM shares get suspended out of the blue and never return even if everything looked rosy. They can take even experienced investors by surprise. 

So main thing is not to put too much in especially if the market cap is under say £50m. 

And please watch the small AIM oil companies. I know, I know, you can't resist. Anything with oil in it gets you going. Because it will find oil and you'll become a millionaire overnight from a small stake. 

In your dreams. Stay clear. Okay, you might get one winner but betcha you get 5 losers along with it. 

Some tiny oil shares even tell you how dangerous they are by their very name.I mean would you buy something called "Trap Oil"? Even the code of it is "TRAP". 

How much more could they spell out how risky it was? It launched on the market at 50p and soon went to 10p. A right old trap. 

There are plenty of others. Don't put them in your ISA. Go for companies that make or design or sell real things. 

Here are three I have already tucked away. 

1. Seeing Machines (SEE) - lt looks like it is going places and winning some decent contracts. This is the kind of share that could easily double and could well do even better than that if its technology pays off. 

It also has cash and an alliance with Caterpillar - it helps with new interaction with machines, such as eye recognition - possibly the company of the future? Definitely worth a punt.  

2. Litebulb (LBB) - This really is a penny share, indeed well under a penny and looking for 50%-100% upside, valued at only £11m, it's  a company supplying niche products and marketing to a variety of big clients including Debenhams, BA and Audi. 

Looks a well-run machine and its current rating could be on the cheap side.  I had a light bulb moment and bought a million shares. However, of course, a million shares only set me back around 6 grand!! 

3. Monitise (MONI) - I’ve trebled my money on Monitise in the last couple of years in my SIPP and in spread bets. However now I can buy them in my ISA I have added a load in there. Mobile payments are the next big thing and Monitise has many decent contracts in place. 

While on the fundamentals it doesn't look cheap the future looks so bright it is worth paying a premium for, and this month it announced a deal with IBM and I suspect within the next year or two someone will buy it. It's very volatile but I think with patience, it will pay off big-time and I hope to exit at over a quid for another double. 

Anyway I have tucked these away and consider the money gone. If they screw up it's fine. If they become giant companies I will be in the money - tax free!