Tax-efficient and highly profitable, ISAs are a popular choice for individuals wishing to save for the future. Introduced in 1999, the Chancellor's 2014 Budget further improved the flexibility and tax breaks of ISAs, making now the best time to invest. The 2019/2020 ISA allowance is £20,000 for the tax year, giving you more opportunities than ever to increase your savings.
Choosing to invest in an ISA is a no-brainer, but choosing the right ISA for you can be complex, longwinded, and potentially limiting. With so many options and even more banks offering different rates, understanding which ISAs are best for you can feel overwhelming. At Michael Reed Wealth Management, I am dedicated to finding the perfect ISA, leaving you to reap the rewards.
Different Types of ISAs:
Cash ISAs - Known as a standard instant access savings account.
Help to Buy ISAs - Account for first-time buyers to save.
Innovative Finance ISAs - Used for peer-to-peer or business lending.
Lifetime ISAs - Any money saved will receive a 25% state bonus.
Stocks & Shares ISAs - Savings are invested and managed by an adviser.
Your ISA amount will increase by a percentage every tax year, as will your dividends. However, they are not without risk, so choosing an investment ISA should be done with care - the value can fall as well as rise. If you are interested in a stocks and shares ISA, I will first understand your appetite for risk before recommending investment options, to ensure that you are confident in your financial future.
As the ISA allowance is split across multiple accounts, I will present a range of investments then manage the value to produce the highest gains. From opening an ISA, transferring potential funds to finally accessing the amount, you can rest assured that your ISAs are in the best hands.
During an initial consultation, I will discover your financial aspirations, when you wish to access the amount and your planned level of risk. My goal is to fully understand your monetary situation. I believe that an ISA should be tailored to you personally.
To discuss how ISAs can benefit you financially, contact Michael Reed today.