This tax year you can invest up to £20,000 in ISAs – the tax year runs from 6th April to 5th April.
You can invest the full amount into either a Stocks & Shares ISA or a Cash ISA or alternatively split your investment between either, providing you stay within the £20,000 limit.
The annual ISA allowance is per individual. This means that a husband and wife, for example, can invest up to £40,000 between them into ISAs this tax year.
The benefits of an ISA for you:
Earn Income or growth on your investment with no tax liability.
No need to declare your ISA on your annual tax return.
Access your money at any time if you need to (not instant access).
Should you wish to know which ISA is right for you contact SN Financial Services Ltd for independent financial advice.
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