ISAs (Individual Savings Accounts) are tax-efficient. This means you don't pay tax on money earned or withdrawn from your ISA. There's no income tax, capital gains tax, or dividend tax on your savings.
Why open an ISA?
An ISA helps you save for planned and unexpected events. You might want a holiday, help your child with university costs, or set money aside for home repairs. An ISA keeps your savings safe and accessible when you need them.
Common reasons to use an ISA:
- Covering emergencies
- Paying for university fees
- Funding hobbies
- Buying or improving your home
- Raising children
- Going on special holidays
- Saving for retirement
There are different types of ISAs. You can usually hold cash, investments, or a mix of both. The Cushon ISA is a stocks and shares ISA, but you can also hold cash within it.