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Individual Savings
Accounts (ISAs)
An Individual Savings Account is a tax efficient investment
whereby you can
protect your savings from
income tax and capital gains tax
as there is no
further tax to pay in the investors hands.
An ISA may be either a Maxi ISA or a Mini ISA.
Mini ISA’s consist of just one
type of investment –
cash, stocks and shares or life insurance
and each type can
be bought from different providers.
A Maxi ISA is from one provider and must
include
stocks and shares (unit trusts,
OEICs).
It is possible to include a cash
deposit and life assurance
if the one provider offers them.
It is only possible
to invest in either
a Mini or a Maxi ISA in a tax year.
We are currently recommending our clients use
the Cofunds service for this type
of investment.
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