Investing money needs careful consideration and you need to be absolutely sure of the risks involved. This section provides generic information on different types of saving & investment. You should seek advice appropriate to your specific circumstances prior to making any decisions.
The value of investments and any income from them can fall as well as rise. You may not get back the amount originally invested.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen
Tax concessions are not guaranteed and may change in the future. Tax free means the investor pays no tax.
Individual Savings Accounts (ISAs)
The ISA allowance for 2023/24 is £20,000. This means you can pay £20,000 into ISAs this year from 6 April to 5 April. £20,000 allowance for 2023/24. The tax year runs from 6 April to 5 April.
An ISA is a medium to long term investment, which aims to increase the value of the money you invest for growth or income or both.
The value of your investments and any income from them can fall as well as rise. You may not get back the amount you invested.