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ISA advice (New ISA advice)

Farrell Financial Planning provide independent advice on New ISAs (NISAs) as part of our investment advice service. It is crucially important to take independent financial advice when considering any investment, including New ISAs.

What is an ISA (New ISA)?

ISAs (Individual Savings Accounts) were tax efficient investments available to UK resident individuals. On 1st July 2014, all ISAs became New ISAs (NISAs).

Just like ISAs, New ISAs are not available to companies and cannot be held in trust.

How much can I invest in a New ISA?

The New ISA (NISA) annual investment allowance is £20,000 for tax year 2017/18.

How are New ISAs different to ISAs?

On 1st July 2014 all ISAs became New ISAs (NISAs).

The new rules allow 100% to be invested in either a stocks and shares NISA or a cash NISA. It is also an option to invest part of the allowance in a stocks and shares NISA and part in a cash NISA.

It is possible to transfer from a stocks and shares NISA into a cash NISA. Such transfers were not allowed under the old ISA rules.

Who can invest in a cash New ISA?

UK residents age 16 and over can invest in cash NISAs.

Who can invest in a stocks & shares New ISA?

UK residents age 18 and over can invest in stocks & shares NISAs.

Contact us for more information and find out how our independent investment advice on NISAs and other investments can help get your money working harder for you.

 

Like all investments New ISAs may not be suitable for all investors and their value can fluctuate and go down, so you may get back less than you paid in.

All information is based on Farrell Financial Planning’s understanding of UK law & HMRC practice in the UK. Tax and legislation are subject to change.