Read on to find out how much interest you could receive on your stock and shares investments.
ISA calculator — What returns might you get for your ISA?
Frequently Asked Questions (FAQs)
What is an ISA?
An ISA is a type of savings account that allows you to save large amounts of money without paying income tax. Each tax year, you are set an ISA allowance which limits the amount of tax-free money you can put in, and is usually around £20,000. ISAs were established decades ago to encourage the public to save for their future. People pay into their accounts either monthly or annually and receive what is essentially “free money” at the end of their investment goal — normally a few years down the line.
Can I Have Multiple Stocks and Shares ISAs?
It is possible to have multiple existing ISAs at the same time, but you are only allowed to pay funds into one per tax year.
What is the Minimum Amount I Can Open a Stocks and Shares ISA with?
It depends on the bank, and plans can range from anywhere between £25 and £1,000. You can either choose to make regular savings payments or pay in one lump sum. However you choose to invest, there are affordable plans for everyone.
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