ISA or Individual Savings Accounts are a Tax Free way to save or invest. Known as a “wrapper” they enable your investments to grow free of tax, and therefore often far outperforming the returns you would get from bank and building society accounts.
Free from both income tax and capital gains tax, you can have Stocks and Shares ISA’s as well as Cash ISA’s and your ISA allowance for 2018/19 is up to £20 000 a year and benefit from these considerable tax breaks. If you can, you should ensure your investments are in a Tax free wrapper such as an ISA or Pension to ensure you don’t have to pay tax on the growth, which can seriously negatively affect the returns.
Our ISA’s are easily accessible, with a ten working day withdrawal, making your cash far more accessible than bank savings accounts that usually have a notice to withdraw ranging from 30 days and can incur charges. Our team of IFA’s can advise on the best investments to place in your ISA. Contact us now for a FREE consultation.
Taking money from your ISA doesn’t incur charges giving you flexibility to access your cash should you need to.