ISAs are a tax efficient investment where you pay no capital gains tax and no further tax on income taken.
Benefits of an ISA
- Currently you can invest up to £15,000 each tax year into an ISA.
- Used regularly, your ISA allowance offers you the chance to create a substantial investment, which is sheltered from the taxman.
- Any UK resident aged 18 or over (16 for Cash ISA’s) can invest in an ISA.
- You can access and withdraw funds from an ISA when required.
- Junior ISA’s are also available for children living in the UK and under age 18. The funds saved cannot be accessed until the child is 18.