The ins and outs of ISAs
The ins and outs of ISAs The easier it is to borrow
money on credit, the more difficult it is to manage one's
finances. With the national debt escalating each year in
the UK, it is high time people started learning how to manage
their savings and expenditure. Are you an aspiring investor who
is contemplating a foray into the world of investment? Then there is
good news for you ? The finance market today offers a wide
spectrum of investment opportunities to those who are
serious about saving some good bucks.
Has the suggestion of investing into ISAs been
thrown at you quite often? And you don't really know what ISAs
actually are? Then, you are not the only one. There are a lot of
people who face this dilemma every day and often feel confused
due to an absolute loss of guidance in this area. Well, you
don't need to worry any more for this piece aims at giving you a
complete overview of ISAs.
Let's start with understanding what ISAs actually are. An ISA is
an individual savings account that was introduced in April 1999
to replace TESSAs and PEPs.
The benefit of ISAs: The ISAs are investments that are free
from income and capital gains. In other words ISA is a
tax-exempt savings plan.
The Investment Limit: Each person can invest upto