When considering your savings, have you thought about the role Individual Saving Accounts (or ‘ISAs’) could have? Here are three reasons why a Stocks & Shares ISA could help you reach your long term savings goals. Firstly tackling inflation, which can be the enemy of cash savings; as the real value of the cash savings is eroded by the price of goods or services. Accepting a degree of risk to invest money in company shares, bonds property and other assets could have higher returns in comparison. Secondly protecting your assets from tax, investing in an ISA. Currently any income you receive and any capital gains from a rise in value of your investments will be free from personal taxation, irrespective of any other earnings you have. Finally investing in a Stocks & Shares ISA means you can invest a lump sum, for the tax year starting 6 April 2017, the ISA allowance is £20,000 for Stocks & Shares or Cash ISAs and £4,128 for Junior ISAs.
