Best Buy ISAs
Best Buy ISAs
If you are thinking of opening an ISA (Individual Savings Account) it is important to shop around, checking the different deals available, until you find the best buy ISAs on the market.
An ISA is a savings account with tax relief. You can have a Cash ISA, a Stocks and Shares ISA or both. Your total tax free allowance for a tax year is £7,200. You may invest the entire allowance into a Stocks and Shares ISA, or, you can invest up to £3,600 into a Cash ISA and then if you want to use your entire allowance, invest the remainder into Stocks and Shares.
Some features you would expect to find in best buy ISAs include:
- Instant access to your money
- You can put money in or take money out at any time without losing tax relief
- No tax is paid on any income received from the ISA – this includes dividends, interest and bonuses.
- No tax is paid on any capital gains arising on ISA investments
- You do not have to declare income and capital gains from ISA savings and investments
For a selection of the latest best buy ISAs, see the table below:
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Investment ISAs are designed as medium to long term investments, for example at least five years.
The value of your investment and the level of any income received from it can fall as well as rise and is not guaranteed and you may not get back the amount of your original investment.
The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
If you choose an index-tracking trust which invests overseas, exchange rate variations may cause the value of your investment to increase or decrease.
If you unsure what Investment ISA plan is right for you speak to an independent investment adviser.