An ISA (Individual Savings Account) is simply a tax-efficient way to save or invest.  The account is exempt from income tax and capital gains tax on the investment returns, and there is  no tax  payable on money withdrawn from either.

i. The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
ii. Investors do not pay any personal tax on income or capital growth gains, but ISA’s do pay tax on income from stacks and shares within the funds.
iii. Tax treatment varies according to individual circumstances and is subject to change.

Every tax year the government will set a limit on the amount you can deposit in an ISA, currently £20,000.

You can apply for a cash ISA if you are 16 or over and resident in the UK , but you need to be 18 or over to apply for a stocks and shares ISA.  You can choose to save in a cash ISA, a stocks and shares ISA or a combination of both providing you don’t exceed the limit.  Paying money into an ISA is called a subscription and you can subscribe to only one cash ISA and one stocks and shares ISA in every tax year.

Having an ISA can be a great way to meet your savings goal and can also be a tax efficient tool for long term financial planning.   We can help you to select the right ISA for your needs, whether it’s a fixed or variable rate cash ISA, or a Self-Select or managed stocks and shares ISA.  You may also choose to regularly transfer your Cash ISA’s to avoid a drop in initial interest rates and benefits and we can help you choose the right strategy.

Call us on 0141 237 1545 or use our online enquiry form for more information or to arrange a completely free initial consultation