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.
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.
The New ISA (NISA) annual investment allowance is £20,000 for tax year 2020/21.
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.
UK residents age 16 and over can invest in cash NISAs.
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.