Whether you’re a novice or an experienced saver, we can help you get the most from your 2019/20 ISA allowance.

Tax year deadline is 5 April 2020
Each year, you have an ISA allowance which, if fully utilised, can have a big impact over time. ISA allowances can’t be rolled over to the next tax year. If you don’t use your 2019/20 ISA allowance by 5 April 2020, it’ll be gone for good. For the 2019/20 tax year, the ISA allowance is £20,000.

You can split the ISA allowance across different types of ISA, but you can only add money to one ISA of each type in a tax year.

What are your ISA options?
Cash ISA – a type of savings account, where any interest received is tax-free.
Stocks & Shares ISA – a ‘wrapper’ for investments, where any investment growth is tax-efficient.
Innovative Finance ISA – a ‘wrapper’ specifically for peer-to-peer investments, where any interest received is tax-efficient. Peer-to-peer investments are high risk arrangements. You could lose some or all of your capital.

Help to Buy ISA – a regular savings Cash ISA, where the Government will add up to £3,000 if you have contributed £12,000 yourself (these closed to new savers on 30 November 2019).

Lifetime ISA – a type of Cash or Stocks & Shares ISA available to the under 40s since 6 April 2017, designed to help people save for their first home or their retirement. Any interest received or investment growth is tax-efficient. Savings of up to £4,000 per year will be matched by a contribution of up to £1,000 from the Government; any savings above that amount will not receive any additional bonus. You can continue paying into a Lifetime ISA until you are 50.

Junior ISA – a type of Cash ISA where parents can save up to £4,368 per year tax-efficiently for the child. The child gains access to the money at the age of 16, and the account becomes a standard cash ISA at the age of 18.

Inheritance ISA – a Cash ISA specifically for widows, widowers or bereaved civil partners, where the deceased’s ISA can be transferred across into the surviving partner’s name, in addition to their own annual allowance.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM, TAXATION ARE SUBJECT TO CHANGE.

THE TAX BENEFITS RELATING TO ISA INVESTMENTS MAY NOT BE MAINTAINED.

THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE.

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