ISA - Individual Savings Account
ISAs (Individual Savings Accounts) are tax-proof wrappers which can shield some of your savings and investments.
Have you ever dreamt of having a safe place to put your money, where the tax man won’t be able to get his hands on it? If the answer is a resounding yes then perhaps getting an ISA is something to be considered.
This tax immunity is available for the financial benefits of cash, funds and shares, and life insurance products when they are stored within an ISA.
Like all good things, ISAs have their limitations and there are rules and regulations that govern who can have them, how much money they can invest in them and how many of them they can have.
Rather confusingly ISAs don’t function in the same way as a traditional savings account from a bank and building society and you can’t simply draw on you funds whenever you like.
As already mentioned, ISAs can contain a combination of Cash, funds and shares, and Life Insurance products.
There are two types of ISA, Maxi ISA and Mini ISA, otherwise known as a cash ISA. Each type of ISA has a limit to the amount you can invest per tax year.
Read our ISA Investment Guidelines here and discover which is the best ISA for you...
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> ISA Investment Advice
