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Your guide to ISAs

23 July 2018

What is an ISA?

An ISA (Individual Savings Account) is a tax-free way to save or invest. An ISA itself is not an investment in its own right; it is a tax wrapper that you place around an investment which in effect shields it from some or all of the tax that would normally be due. An ISA has a set Annual Allowance – this is the maximum amount you are permitted to invest per tax year.


In order to open an ISA you must be:

  • 16 or over for a Cash ISA
  • 18 or over for a Stocks & Shares
  • 18 or over but under 40 for a Lifetime ISA
  • Resident in the UK
  • A Crown servant or their spouse or civil partner

You cannot hold an ISA with or on behalf of someone else.

Types of ISAs

There are six types of ISAs

  1. Cash ISAs
  2. Stocks & Shares ISAs
  3. Lifetime ISAs
  4. Junior ISAs
  5. Innovative Finance ISAs
  6. AIM ISAs

Tax benefits of an ISA

You can find out more about ISAs by downloading this fact sheet. For further information and advice get in touch with one of our team on 01903 234094 or email