Tax Rules for ISAs
Tax Rules for ISAs
The tax rules for ISAs are different from normal bank accounts; and as a result, they are a good way of saving money. With an ISA, you can invest up to £7,200 per tax year (but only a maximum of £3,600 of that allowance can be put into a Cash ISA), but the money is exempt from tax, which means you get to keep everything you invest.
The Tax rules for ISAs are:
For a selection of current ISA deals, see the table below:
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Please bear in mind that:
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.