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 £5,760 each tax year in a cash ISA.
Contact us now to find out about using your Cash ISA allowance now
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:
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.