Have You Used Your Annual Tax Free ISA Allowance

Published / Last Updated on 15/03/2002

What's in an ISA?  Are you saving tax efficiently?  Make the most of tax efficient savings.  Whether you want to save £20 p.m.  or a lump sum up to £7,000, ISA's could be for you.  

An ISA is an Individual Savings Account.  For more on these and general savings visit our Guide to ISAs in Savings Adviser.com.

Time is short, every year you have an annual allowance to save in a tax efficient way and the end of the tax year is nearly upon us. 

What is an ISA?  An ISA is an Individual Savings Account where any growth or interest is received by you is not subject to tax.  They were introduced by the Government to encourage people to save.  This can be in cash type savings such as a bank account, life assurance policies or stocks and shares.  You can save up to £7,000 a year in ISA's, so if you save or are planning to save, you should always consider one to maximise tax incentives.  You may not be aware, if you are a tax payer, that any interest that you receive from a bank or building society account has normally had tax deducted before you get it.  Why give away your money in tax?

Types of ISA - You can save monthly or by lump sum.  This can be into either a MAXI ISA (stocks and shares) up to £7,000 a year or you can have up to 3 MINI ISA's a year, this being £3,000 each for a Stocks and Shares ISA and Cash ISA and £1,000 for a life assurance ISA.  

Choosing an ISA - Thousands of ISAs, many companies, the choice can leave people baffled. 

  • Low charges?
  • Best interest rate?
  • Where to invest?
  • Where do you go?

Banks or building societies may only offer you their own products.   Independent advice gives you the choice of many.  Search for your ISA using our policy search engine.

Need ISA help?  Visit the Help Zone and let us help you or apply on line or by post today by visiting the Interactive Zone

With our help, you can have a recommendation on your doorstep the next day or in your mailbox sooner.  No need for an adviser to come to your home.  Why not contact us and order a copy of an impartial "Guide to ISA's", issued by the Financial Services Authority. 

Or use our Guide to ISAs

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