A Stocks and shares Individual Savings Account (ISA) is an effective way for people to invest as they offer generous tax benefits whilst allowing you access to your funds when required. An ISA is effectively a ’tax wrapper’ that can be put around a wide range of different investment products, which allows you to pay no further tax on any income or gains that you make when you sell your investments.
The ISA allowance runs each year until the 5th of April. The current allowance is £20,000 each year. You are not required to deposit the full £20,00 in one lump sum and you are able to make regular contributions up to the £20,000 figure. At the end of each year, the allowance is re-set.
ISA’s can be a very cost effective way of investing in the financial markets.
You can transfer any cash ISAs or investment ISAs (stocks & shares ISAs) you have with other providers to Enigma Strategy. Transferring ISAs from previous tax years doesn’t impact your current ISA allowance at all, so you can still put up to £20,000 into an ISA this tax year.