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The Citywire Money ISA guide
ISAs or individual savings accounts are a popular and tax-efficient way to save. This guide to ISAs tells you about the three main types of ISAs: cash ISAs, stocks and shares ISAs and junior ISAs for children, and how much you can save into them every year.
Key points about ISAs:
- Unlike pensions, you can access money saved in an ISA at any time.
- Cash ISAs are a good way to build up a pot of money for emergencies or shorter-term projects.
- Stocks and shares ISAs are longer-term investments and are for money you can afford to put away for five years or more.
- In the 2012/13 tax year you can save up to a total of £11,280 into cash and stocks and shares ISAs.
- The most you can put into a cash ISA is half that amount – £5,640 – with any more going into a stocks and shares ISA.
- Or you could put up to £11,280 into just a stocks and shares ISA.
- Adults can contribute to a junior ISA for a child. The annual allowance for a junior ISA is currently £3,600.
The articles and videos below are mostly from The Lolly, the part of the Citywire Money website dedicated to beginner investors. If you like what you see there you can sign up to The Lolly’s weekly email.
Video guides to ISAs
Junior ISAs: a 10-point guide to saving for children
The Junior ISA: tax-free savings for the kids
How to save using an ISA
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