Experienced independent financial advisors Enable of Bishop’s Stortford would always encourage people to take up their ISA allowances as the first step to saving. Just like normal savings accounts there's a variety of cash ISAs available, such as instant access, fixed rate, and accounts with base rate guarantees. IFA’s like Enable are happy to talk you through your ISA options.
For stocks and shares ISAs there are also a variety of accounts to look at, indeed share based investments in various forms are even ISA-able i.e shares in individual companies may be placed inside what's called a self-select ISA, these are usually managed by stockbrokers.
However a more common use of the shares allowance is for collective investment vehicles like unit or investment trusts. These are pooled investments where a fund manager picks a selection of shares based on geographic or sector criteria and the value of the investment depends on the collective performance of the shares picked.
The good thing about placing these investments inside an ISA wrapper is that it provides two tax advantages. First any profits made from share price increases aren't eligible for capital gains tax and second it enables all the tax on bonds to be reclaimed. Enable of Bishop’s Stortford can offer experienced Independent financial Advice on your ISA’s.
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