An Individual Savings Account or ISA is a tax efficient savings vehicle. The investments held within an ISA are not subject to UK income tax or capital gains tax so you get to keep more of your investment growth.
Maximum contribution in 2021/2022 tax year
You can contribute up to £20,000 to an ISA in the current tax year (for UK tax residents) and you can transfer unlimited amounts from other ISA accounts regardless of your country of residence. There is no lifetime limit to the amount you can build up in an ISA.
The ISA account allows you to invest in a wide range of investments including:
✓ UK, US and other overseas Shares
✓ Exchange Traded Funds
✓ Investment Trusts
✓ Unit Trusts & OEICs
✓ A range of Ready-made Portfolios
There are no restrictions on how much and when you can withdraw the money from your ISA, and withdrawals are usually free from UK taxes.
There's a one-off £50 Account opening fee and dealing charges are £4.95 for OEICs & Unit Trusts, and £11.95 for Shares, ETFs and Investment Trusts.
Annual account charge
depending on the value of your account