In support of lifetime members, ICAEW is sharing this article from Mazars Financial Planning reflecting on the Individual Savings Allowance (ISA), which was introduced close to 20 years ago, and the different options now available to help in tax planning.
It is hard to believe that the Individual Savings Allowance (ISA) is nearly 20 years old. What started as a simple cash savings plan of £3,000 per annum tax-free, has transformed into a myriad of options available today. The ISA now has many forms and reincarnations and there is one for nearly every saver; it is one of the best places to stash some of your cash.
The investment limit for 2018/2019 is £20,000 per adult individuals and you can split this between a cash ISA and a stocks and shares ISA. If you haven’t used up your maximum allowance yet this year, make sure you top up before 5 April as your allowance doesn’t roll over to the next tax year. So use it, or lose it.