What is an ISA?
ISA stands for Individual Savings Account, and there are two types – cash ISAs and stocks and shares ISAs.
What makes them so popular, compared to a standard savings account, is that cash ISAs let you save without having to pay any income tax on the interest. With a stocks and shares ISA you don't pay any personal tax on any income received or increase in the value of your investment.
Tax-free cash ISAs*
Making the most of your money
With a cash ISA your money is at no more risk than any other savings account and a great way for you – not the taxman – to keep more of your money.
For every £1 of interest you earn on your savings, instead of the taxman pocketing 20p of income tax (if you’re a basic rate taxpayer), you get to keep it all.
Tax-efficient stocks and shares ISAs*
Investing over the medium to long term
A stocks and shares ISA is another option open to you if you’re looking to invest for at least 5 to 10 years.
Our stocks and shares ISA is provided by Scottish Widows Unit Trust Managers Limited and is a tax efficient way of investing, offering greater potential for growth than cash ISAs.
But remember the value of your investment can go down as well as up, and you may get back less than you originally invested.
If you already have a stocks and shares ISA with another provider, we can discuss the potential benefits of moving it across to us. So if you’d like to know more, book an appointment with financial adviser.
