Finance Blog

ISA’S have become the popular savings account of choice over recent years, due to their tax efficiency and ability for the account holder to control their own savings.

Deciding to open one of these accounts means that you need to be over eighteen years old, you need to invest up to £10 000 per annum and you need to have some idea about the stock and shares markets.

Speaking to an investment consultant before you start trading is advisable, learn as much as you can and then invest wisely.  The biggest advantage is if you invest wisely and make profits, these profits are capital gains tax free and do not need to be declared on your annual tax return.

ISA’S takes time and effort, you need to be sure about your investments because as quickly as you can make a profit you can lose it, but you are able to withdraw money as you need it and reinvest it, as long as you haven’t reached your annual allowance.

Try and keep your account high especially at the end of the tax year because amounts under £5,100 will result in an administration fee.  While these accounts are not subject to commission when trading, some investments do charge a fund manager charge, so it’s a good idea to keep your eye on that.

Overall ISA’S is a great way to invest your savings and gives you the opportunity to earn more on your money than if it was sitting in a regular savings account.