There are two types of ISA, a Cash ISA and a Stocks & Shares ISA.
Each individual has a tax year allowance (6th April to the 5th April the following year) of £5,100 in a Cash ISA. This investment will count against your total tax year allowance of £10,200 (including investment in a Stocks & Shares ISA).
You can only subscribe to one Cash ISA and one Stocks & Shares ISA in any
tax year.
Stakeholder products meet Government standards on charging, access and terms. Our ISAs are not Stakeholder products because of restrictions on withdrawals and they do not track the Bank of England Base Rate. Stakeholder products are not necessarily better. Joint accounts are not allowed.
Beneficial ownership may not be assigned or transferred to another person or used as security for a loan. ISA accounts must be closed on death. Tax will be paid from date of death to closure.
Must be over 16 years old and resident in the UK or crown employee serving overseas or married, or the civil partner of such a person.
Tax efficient - Yes, you do not have to pay income tax on interest earned.
There is no guarantee the Government will maintain favorable tax treatment
