Individual Savings Accounts – ISAs

‘ISA’ stands for Individual Savings Account, a tax-efficient wrapper offered under Government legislation as a way of encouraging you to save.

An ISA sits over your choice of a number of different investments to shelter them from further tax on any income or gains earned. There are now just two types of ISA – the Cash ISA and the Stocks and Shares ISA – and the combined allowance for both in 2018/2019 is £20,000.

In addition, you can transfer existing Cash ISA holdings to a Stocks and Shares ISA (and vice-versa) without impacting on your current tax year allowance. So, if you have £10,000 already sitting in existing cash ISA plans then this amount can be moved to a Stocks and Shares ISA, yet leave your entire current tax year allowance available.

Finally, if you already have an ISA, you are permitted to transfer it to a new plan manager, without using any of your annual allowance.

Please feel free to download the ‘Guide to ISAs‘ brochure*. It contains plenty of information on what you should consider when considering investing in an ISA.

Alternatively, if you require independent financial advice on ISAs, feel free to call on 01554 770022 and we can arrange a no obligation appointment.

*Brochure provided courtesy of http://www.adviser-hub.co.uk

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