Why Save With An ISA?

There are many benefits by saving within an ISA. From generating interest on your money to being a tax-efficient way of investing, ISAs can help people grow a savings pot quickly and flexibly.

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The Tax Benefits of an ISA

ISAs were introduced on the 6th April 1999 to replace the earlier PEPs (Personal Equity Plans) and TESSAs (Tax-Exempt Special Savings Accounts). Today, many people invest in an ISA (Individual Saving Account) for the tax-benefits these accounts offer, plus the rate of growth an ISA can generate.

ISA investments are often referred to as a ‘tax-free wrapper’ which is technical speak for a place where money can earn growth without having to pay HMRC a percentage. The tax benefits can be used on either cash or stock and shares, which means you can have more control over where to invest your money.

As with any investment, the value of your funds can go down as well as up, and expert financial advice is always recommended.

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What type of tax benefits are available?

ISA Tax benefits fall into two categories: Income Tax Benefits and Capital Gains Tax Benefits.

  • ISA Income Tax Benefits

As a general rule, any income you earn, whether it be through employment, savings interest or stock dividends will incur an Income Tax charge. However, this is not the case with ISAs (Individual Savings Account). The money you earn within these savings accounts is completely tax-free within your annual investment allowance.

Income tax benefits are just part of the benefits when you are thinking about an ISA. The other advantage to these products is the capital gains tax benefits you can enjoy, plus growth rates.

  • ISA Capital Gains Tax Benefits

Capital gains tax benefits specifically apply to Stocks and Shares ISAs and not Cash ISAs. Most investments are subject to a capital gains tax if you earn more money than the set limit from your stocks and shares in a single year. This tax requirement is waived for investments in stocks and shares ISAs, making them a potential option for people looking for a tax-efficient way of saving money and enjoying growth.

As with any investment, the value of your funds can go down as well as up, and expert financial advice is always recommended.

Make the most of the tax benefits

Every year, there is a maximum investment threshold that can enjoy tax benefits through an ISA. Any unused ISA allowance doesn’t roll over into the next year – so once it’s gone, it’s gone. You’ll get a new allowance for the upcoming tax year, but you won’t be able to contribute into the previous year. That’s why it’s essential to act and make the most of your allowance every year.

Tax treatment depends on your circumstances and may change in the future.

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Why choose Hilltop Finance?

At Hilltop Finance, our team of financial experts can help guide and advise you on how to get the most out of your savings. Whether you’re an experienced investor looking for good returns or someone looking to secure a little nest egg for the future, we will assess your current ISA investments to ensure you’re getting the right deal for you.

Fully authorised and regulated by the Financial Conduct Authority
Independent and not tied to any provider
Always work in your best financial interests
Telephone-based advice for your convenience
Experienced and fully qualified financial advisers

How does our ISA assessment work?

Our stocks and shares ISA assessment will give you a thorough understanding of how your current investments are performing, find out your individual circumstances and investigate if there are more suitable products for you on the market.

Our ISA assessment covers: –

  • The growth performance of your current investments
  • How accessible your current ISA products are
  • Get the value of investments contained within your ISA
  • Assess your attitude to financial risk and the risk level of your ISA

If you meet the minimum criteria, once we have assessed your ISA and the investments that account contains, we will search the whole of the market to find out if there are more suitable, and potentially better-performing products on the market.

Your financial adviser will then deliver a comprehensive report, including financial advice that will enable you to make informed decisions regarding your investment ISAs.

Why Wait? Speak to our team now on

0161 413 7051

As with any ISA investment, the longer you leave a poor performing fund, the more chance there is to lose money. By contacting Hilltop Finance today, we can start assessing your investments and help you to make the most of your savings.

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