{"id":9244,"date":"2022-05-07T13:10:31","date_gmt":"2022-05-07T12:10:31","guid":{"rendered":"https:\/\/sbwm.uk\/?p=9244"},"modified":"2022-05-07T13:11:31","modified_gmt":"2022-05-07T12:11:31","slug":"making-the-most-of-isas-2","status":"publish","type":"post","link":"https:\/\/sbwm.uk\/v3\/news\/making-the-most-of-isas-2\/","title":{"rendered":"Making the most of ISAs"},"content":{"rendered":"<p><b>Individual Savings Accounts, universally known as ISAs, began life as relatively simple savings plans in 1999, but over the past 23 years the rules surrounding them have become ever more complex. A May 2018 report on savings tax from the Office of Tax Simplification (OTS) suggested that \u201cthere is scope for a wider full review of the current ISA landscape, to make the regime simpler and more accessible\u201d.<\/b><\/p>\n<p>The government\u2019s website says there are only four categories of ISA \u2013 cash ISAs, stocks and shares ISAs, innovative finance ISAs, and Lifetime ISAs \u2013 but variants exist for specific investment needs.<\/p>\n<p>This guide will explain how the main variants work, in order of their original launch date.<\/p>\n<p>The Guide covers the following topics:<\/p>\n<ul>\n<li><b>The types of ISA available<span class=\"Apple-converted-space\">&nbsp;<br><\/span><\/b>The ISA family includes a range of products suited for a variety of investment plans<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n<li><b>The investment options<span class=\"Apple-converted-space\">&nbsp;<br><\/span><\/b>How you can use ISAs for cash savings, stocks and more<\/li>\n<li><b>Investment limits<br><\/b>The amount you can contribute each tax year depends on the type of ISA<\/li>\n<li><b>How ISA investments are taxed<br><\/b>How the tax privileges work in practice, for each type of ISA&nbsp;<\/li>\n<\/ul>\n<p class=\"p1\"><b><a href=\"https:\/\/sbwm.uk\/keyguides\/SBWM-KeyGuides-MakingthemostofISAs.pdf\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignleft wp-image-7060 size-full lazyload\" data-src=\"https:\/\/sbwm.uk\/v3\/wp-content\/uploads\/2020\/05\/SBWM_Keyguide-covers8.jpg\" alt=\"\" width=\"170\" height=\"234\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 170px; --smush-placeholder-aspect-ratio: 170\/234;\"><\/a><a href=\"https:\/\/sbwm.uk\/keyguides\/SBWM-KeyGuides-MakingthemostofISAs.pdf\" target=\"_blank\" rel=\"noopener\">Click here to download your copy of \u2018Making the most of ISAs&#8217;.<\/a><\/b><\/p>\n<p><i>Our full range of Key Guides can be found at:<br><\/i><a href=\"https:\/\/sbwm.uk\/resources\/key-guides\" target=\"_blank\" rel=\"noopener\"><span class=\"s1\"><b><i>www.sbwm.uk\/resources\/key-guides<\/i><\/b><\/span><b><i><\/i><\/b><\/a><\/p>\n<p><b><i>Investors do not pay any personal tax on income or gains, but ISAs may pay unrecoverable tax on income from stocks and shares received by the ISA managers.<\/i><\/b><\/p>\n<p><b><i>This publication is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority (FCA) does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Scheme. This publication represents our understanding of the contents of the autumn 2021 Budget, law and HM Revenue &amp; Customs practice as at 2 November 2021.<\/i><\/b><\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-9244\" data-postid=\"9244\" class=\"themify_builder_content themify_builder_content-9244 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Individual Savings Accounts, universally known as ISAs, began life as relatively simple savings plans in 1999, but over the past 23 years the rules surrounding them have become ever more complex. A May 2018 report on savings tax from the Office of Tax Simplification (OTS) suggested that \u201cthere is scope for a wider full review [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7665,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":160,"footnotes":""},"categories":[160],"tags":[],"class_list":["post-9244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"builder_content":"","_links":{"self":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/posts\/9244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/comments?post=9244"}],"version-history":[{"count":0,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/posts\/9244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/media\/7665"}],"wp:attachment":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/media?parent=9244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/categories?post=9244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/tags?post=9244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}