Individual savings accounts allowance (ISA limit)
ESQ Financial Planning / Individual savings accounts allowance (ISA limit)
Individual savings accounts allowance (ISA limit)
These are personal savings accounts, commonly known as ISAs. Only one ISA can be taken out by an individual in each tax year, however, you can pay a monthly sum or a lump sum into the ISA. An ISA can be invested in for as long as the individual wishes.
There are different types of ISA - including Cash, Stocks & Shares, Innovative, Lifetime and Help to Buy ISA's.
ISAs are tax free, and because they allow both lump sum investments as well as regular fixed contributions, they tend to be a very popular and tax efficient method of saving.
From April 2017, investors will be able to save up to £20,000 tax free per year.
Capital invested can go down as well as up, you may not get back the original amount invested.
ESQ Financial Planning is authorised and regulated by the Financial Conduct Authority who oversees all financial business in the UK.
You can find us on their website www.fca.org.uk Our registration number is 302381. Our registered address is 36 Stock Street, London, E13 0BY.