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ISA simply means you don’t pay any tax on your returns, so you get to keep everything you earn after any fees and charges are taken.
- Stocks and Shares ISAs are also known as investment ISAs. They are very different to Cash ISAs, where you get a guaranteed annual rate of return. A Stocks and Shares ISA means you’re investing in assets like company shares, bonds or property. This carries more risk than a Cash ISA but means you also have the potential to earn far better returns.
- What is the ISA limit: Your annual ISA allowance, or limit, is the amount you can save or invest in any tax year. The ISA account limit for 2018/2019 is £20,000. You can use it however you like: put it all in a cash ISA, all in a Stocks & Shares ISA, or split the allowance between the two in any combination you like, as long as you only open one of each type of ISA each tax year. Older ISAs you opened in previous tax years don’t count towards this year’s allowance, so you can transfer them to a new provider at any time using an ISA transfer form. Check out our golden rules for selecting an ISA before you make any final decisions.
- The name is a bit misleading, as Stocks & Shares ISAs can include a wide range of investment products, including corporate and government bonds, and investment funds, such as Exchange Traded Funds (ETFs) and mutual funds. A Wealthify investment ISA contains between 10-12 funds which can hold thousands of underlying investments.
- ISAs are essentially an invisible wrapper that you put around your investments to stop the tax man taking a share. It doesn’t just work on cash and stocks & shares, an Innovative Finance ISA applies your tax-free wrapper to other forms of investing, like peer to peer lending, lending to businesses and property and crowdfunding.
If you’re looking for long-term growth and your old Cash or Investment ISA isn’t working as hard as you’d like, transferring it to Wealthify is easy. Just complete our quick online form and we’ll take care of the rest. It takes no more than 30 days to complete and you won’t miss out on a penny of interest.
Ready to Start your ISA Transfer now? Complete our quick online ISA Transfer form to get the ball rolling
Please remember that the value of your investments can go down as well as up and you can get back less than invested.
The tax treatment depends on your individual circumstances and maybe subject to change in the future.
