What is an ISA?

The Individual Savings Account scheme was set up by the Government to give you tax advantages on your savings. There are 2 types of ISAs: a cash ISA and an investment ISA (also known as a stocks and shares ISA). You’ll earn interest free of UK income tax with a cash ISA and interest free of UK income and capital gains tax with an investment ISA.
Read on to learn more and to compare ISAs.

Cash ISAs are savings accounts where interest is paid tax free, you can currently save up to £20,000 each tax year in a cash ISA.

  • Earn interest tax free.
  • Option to split your allowance between Clifton Wealth’s full range of cash ISA accounts, for example, save £2,500 in an ISA with instant access and your remaining £3,260 in a fixed term ISA.
  • Long term tax benefits – carry your previous tax years savings over each year and keep adding to them.
  • Choose from a range of fixed and variable rate accounts with various access options
  • Available to UK residents aged 16 or over.

Contact us now to find out about using your Cash ISA allowance now

Why invest in an Investment or Stocks & Shares ISA?

In today’s low interest rate environment, you may be wondering how to try and make your money work harder.
Here are just a few good reasons to consider investing in a Stocks & Shares ISA:

  • If you are prepared to combine investing and saving, you could get protection against the effect of inflation on your money.
  • Any growth made on stocks and shares ISA is protected from capital gains tax.
  • You could save time on your tax return as you don’t have to declare any investments held in a Stocks & Shares ISA.

Investing in an Investment or Stocks & Shares ISA through Clifton Wealth

Providing you’re comfortable with both investing for five years or more and the increased risk associated with investments, they offer greater potential returns than traditional savings. Clifton Wealth has a carefully selected range of investment funds, all of which can be invested tax efficiently as a Stocks & Shares ISA so you can use up to your full ISA allowance.
The value of your investments can go down as well as up, so you could get back less than you invested.
Contact us now to find out about using your Investment or Stocks and Shares ISA allowance now.