Your 2019/2020 ISA Allowance – Use it or Lose it!
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- The deadline for using your ISA allowance is 5 April 2020
- You’re allowed to invest up to £20,000 per tax year
- Any growth and/or income is tax-free (for ever!)
- Allowance cannot be carried forward – use it or lose it!
- Transfers from Cash ISA to Investment ISAs can be done IN ADDITION to a new contribution without affecting your current year’s allowance
- Contact us today to maximise your tax-free allowances!!
What’s in an Investment ISA?
A stockmarket investment is not like a bank or building society deposit account. It may return less than has been invested, whereas a bank or building society deposit account would normally return all your capital. You should consider keeping any money which might be needed in the short term in a bank or building society deposit account. This is generally secure and readily accessible.
While a cash ISA is simply a tax-free savings account, a Stocks and Shares ISA is a tax-efficient investment account that lets you put money into a range of different investments.
If you want to invest over the medium to long term and would like the flexibility to select funds that invest in stocks and shares and other types of investments, then this could be an option for you. You should only invest if you’re prepared to take the risk that your investments can go down, as well as up in value and you may not get back the full amount that you have invested.