There are two different types of Nationwide ISAs: Stocks and Shares ISAs and Cash ISAs.
- Nationwide Stocks and Shares ISAs: Nationwide Stocks and Shares ISAs are provided by Legal & General and are generally for people who want to invest all their money on the stock market. From 6 April 2010, you can invest up to £10,200 per tax year tax free and you may invest the whole £10,200 into a Stocks and Shares ISA, but you may also have a Cash ISA, where you can invest up to £5,100, putting the rest into Stocks and Shares.
- Nationwide Cash ISAs: A Nationwide cash ISA allows investment of up to £5,100 9 (from 6 April 2010) per tax year. Whereas you have to be 18 to have a Stocks and Shares ISA, you only need to be 16 to take advantage of a Cash ISA
Investing your money into Nationwide ISAs means you:
- Do not have to pay any tax on income or capital gains arising from your nationwide ISA
- You can take money out at any point without losing tax relief
- You do not have to declare income or capital gains from Nationwide ISA savings and investments
Or, compare some of the best investment ISA deals on the market through the link below:
