All about ISAs
ISAs are a very popular way to invest because you do not pay any tax on your investment's income or gains. Key things to know about ISAs are:
- Tax benefits There is no tax to pay on income and gains
- Putting money in The total ISA allowance for this tax year is £{{currentIsaAllowance}}. If you have already put money in a cash ISA this year then this counts towards this limit.
- Getting money out Although ISAs are generally for the longer term (more than 5 years), you can withdraw money at any time subject to the conditions of your particular ISA. For instance, any withdrawal from a Lifetime ISA before age 60 that’s not for a first-time home purchase, is subject to a 25% withdrawal charge. Money in a Junior ISA belongs to the child and can’t be withdrawn until they reach age 18. You should also be aware that it can take at least 7 days to receive any money withdrawn.
- Risk and return If you choose to hold your money in cash, there is no risk to your capital. However, if you choose to invest, your investment value can go down as well as up and you might get back less than you put in. Our risk/return explorer can help work out if investing is for you.
- Minimum investment The minimum investment is £{{minimumLumpSum}} as a lump sum or, for ongoing investments, the minimums are £10 per month when investing through pay (if your employer supports it), and £{{minimumDirectDebitPerMonth}} per month when investing through Direct Debit.
Get an ISA from {{ourName}}
Remember that the {{ourName}} ISA is a Stocks & Shares ISA even if you decide to hold your money in cash.