The Many Benefits of ISA Investments

Investors hail individual savings accounts as a good way to grow money due to its many benefits. Here’s a list of them.

1.    Tax Free

ISAs were introduced to promote saving for many consumers. ISAs are tax free regardless of any form of cash, shares or bonds that you put in it. Mixing financial instruments ala “Self-Select” individual saving accounts help you gain more profit because it cannot be taxed even if it is above £10600.

2.    ISA Allowance

In the United Kingdom, anyone who is at the age of 16 or over could go for Cash ISAs and save up to £11,520 in the tax-free wrapper. You could invest the savings into shares or split the savings into part ISA tax-free slices and dividends for profit.

3.    Share ISA Exemption and Dividends

Shares included in ISAs exempt you from Capital Gains Tax if you make more than £10600 yearly. If you’re an additional rate taxpayer, an ISA could save you 27.5% of taxes as you could only be taxed with the basic rate taxpayers.

4.    High Liquidation

Unlike properties and other assets, ISAs are completely liquid, meaning that you could gain access to your money at any time. There’s no need to find buyers or wait for further processes to access your money.