Abbey Cash ISA
Abbey Cash ISA
An Abbey Cash ISA, or Individual Savings Account, can be a good way of saving money, as it offers a higher interest rate than standard savings accounts, and is not subject to tax. ISAs do have certain restrictions, such as only being able to pay in a certain amount each year. Features of an Abbey Cash ISA include:
- Up to £3,600 can be paid into it in each tax year
- No tax on interest
- You do not have to declare income on your ISA
- You are not required to inform the HMRC that you have an ISA
- Instant access to your money without losing tax relief
Like other savings accounts, an Abbey Cash ISA will vary from those offered by other providers in the restrictions and interest rate. It is important to shop around and compare deals to find the right one for you.
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