One Four Nine Wealth – Guide to mastering ISAs
Unlock flexibility, tax efficiency and financial freedom.
Investing wisely involves more than chasing potential returns – it also involves strategically using tax allowances to maximise the value of your savings and investments.
Individual Savings Accounts (ISAs) continue to be an essential tool in #nancial planning because of their tax-efficient structure, flexibility and ability to adapt to a variety of goals. These tax-efficient savings and investment tools offer invaluable options for savvy financial planning, no matter where you are in your wealth-building journey. With the right knowledge and strategies, ISAs can serve as a versatile foundation for growing your finances.
You can save up to £20,000 every tax year, from 6 April to 5 April the following year, into adult ISAs without the proceeds being subject to Income or Capital Gains Tax. The limit has been confirmed to be frozen until 2030. The minimum opening age for adult Cash ISAs is now 18 years old. This change aligns Cash ISAs with the minimum age requirement for other types of adult ISAs.
Before April 2024, you couldn’t open two ISAs of the same type in the same tax year. For example, you needed to close one to open another to get a better interest rate. But now you can open and pay into as many ISAs of the same type as you like, as long as you don’t pay in more than the total ISA limit of £20,000 a year.
This means you could open a cash ISA with one provider and another elsewhere – helpful if
you want to find the best interest rate or spread your cash to keep it safe.
Read our guide to mastering ISAs below.
The Financial Conduct Authority does not regulate on Tax Planning.
