top online self-select isas, best maxi isa offers cheapest pep transfers, compare ISA share dealing, mini cash isa comparisons online ISA dealing, comparing discount isa's online peps best online isa accounts for share trading, uk shares isas online pep accounts buying shares for isa shares trading accounts low admin isas
Guide to ISAs - What is an ISA?
It is an Individual Savings Account. ISAs were launched to UK residents by the Government in 1999. They help protect your savings and investments from the taxman. You can save up to £7,000 in each tax year and make cash deposits, invest in stocks and shares, or both.
What tax advantages do ISAs have?
You will not have to pay any Income Tax or Capital Gains Tax on any of the returns you make from your ISA.
Will I be able to take money out of my ISA?
Yes. You can make withdrawals at any time without losing any of the tax advantages. However, we recommend that you leave your investment untouched for a reasonable length of time, as an ISA that invests in the stock market should be regarded as a medium to long-term investment (more than five years).
What are the CAT standards?
CAT stands for: C - reasonable Charges; A - easy Access; T - reasonable Terms. This is the minimum standard the Government set for ISAs, although ISA managers are not obliged to offer an ISA that meets this standard.
Who can open an ISA account?
To open an ISA you must be 18 years old or over. However, those over aged 16 and over are entitled to open a Mini Cash ISA or the cash component of a Maxi ISA. Individuals must be UK residents for tax purposes. Spouses and Civil Partners of individuals working abroad are also entitled to open an ISA.
ISA Cash Component
This component allows individuals to invest in Building Society deposits, UK and European authorised Bank deposits, cash unit trusts or National Savings. This is a good choice for short-term savings especially if individuals want to access their money easily. The cash component allows individuals as young as 16 years to open either Mini Cash ISAs or the cash component of a Maxi ISA.
ISA Stocks & Shares Component
This component allows individuals to invest in collective shares, for example, Unit Trusts, Investment Unit Trusts, shares listed on a recognised stock exchange, bonds and gilts and Life Assurance. This type of ISA is good if individuals are able to leave their money alone for a long period of time, usually over five years, and are comfortable taking on the risk of market fluctuations in the value of their investment.
New stakeholder products have now become available.
Stakeholder deposit, MTIP and smoothed MTIP are available in both ISA and non-ISA versions.
The stakeholder conditions are as follows:
Cash ISAs: Stakeholder deposit account
Stocks and shares ISAs: Stakeholder medium-term investment products (MTIP)
Extra terms apply to the smoothed MTIP:
does not give advice. Article is for interest only. Advice should be sought from an IFA - Independant Financial Advisor. Page contains best maxi isa offers, top online self-select isas, online pep trading info, ISA share dealing comparisons, best isa's comparisons online ISA dealing offers, comparing discount isa's online, best online isa accounts for share trading, uk shares dealing in isa's, buying shares for isa compare funds trading accounts, links to cheapest online isa accounts.
|All rights reserved||© Site Terms and Conditions apply. Based in London. UK|