Individual Savings Accounts

ISAs are important retirement planning tools as well as being useful when saving up to buy a house.

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The value of pension and investments and the income they produce can fall as well as rise.

Tax treatment varies according to individual circumstances and is subject to change.

What are the benefits of a Stocks & Shares ISA? 

ISAs are tax efficient investments, where there is no capital gains tax payable within the product wrapper, and there is no tax to pay when you withdraw funds from the wrapper.

Why would I start an ISA?

An ISA is an important part of your financial plan and you should be trying (if possible) to max out your annual ISA allowances each year, as this could then form an important part of your retirement pot.

Should I set-up an ISA for my kids?

If you can afford to then yes. Starting a Junior ISA early on for your kids is a brilliant thing to do and they will reap the benefits.

There have been numerous changes to ISAs over the last couple of years, namely:

  • Changes to the annual ISA threshold to £20,000 p/a.
  • Ability to put money into an ISA, take it out and then put it back in within a tax year.
  • Help-to-Buy-ISA whereby from 1st of December 2015, first-time buyers will be able to save in a Help to Buy ISA (HTB ISA): As with traditional cash ISAs, the interest a client earns will be free of both income and capital gains tax. In addition, when savers take money out to buy a house or flat, the government will add 25% to whatever is in the account, up to a maximum of £3,000. That’s £50 extra for every £200 saved. To benefit, a client must be a UK resident and a first-time buyer.
  • No difference between a Cash ISA and a Stocks & Shares ISA anymore. All ISAs are now NISAs (New Individual Savings Account) where, as mentioned, the annual allowance is now £20,000 p/a (17/18 tax year). In a NISA you can hold as much cash or stocks or funds as you like up to the annual allowance.

Because of the changes in regulation, ISAs are now a very important part of our retirement pots, in addition to pensions, Buy-to-Lets, etc. An ISA is an essential saving and retirement planning tool for everyone.

We can advise on what Stocks & Shares ISA is most suitable for you. Please get in touch if you have any questions.

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