What is an Individuals Savings Account (ISA)?
An ISA or Individual Savings Account is a government scheme allowing individuals to hold cash, shares and unit trusts free of tax on dividends, interest and capital gains. Please note that you can only open one Cash ISA and one Stocks & Shares ISA in the same year. There is also an annual limit of £20,000 for the 2019/20 tax year.
You can read more about Stocks & Shares ISAs on the Money Advice Service’s website Money Advice Service’s website.
For more information about Junior ISAs or Lifetime ISAs, please visit the FAQ sections for these.