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ISA’s Individual Saving Accounts

ISAs explained what is an ISA

May 25, 2011

An Individual Savings Account, or ISA, is a tax-sheltered account that can hold a variety of investments, such as cash, stocks, shares, and unit trusts. Interest earned is not subject to income tax and profits are not taxed as capital gains. This tax treatment and their flexibility in terms of permitted investments have made ISAs […]

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Can I Easily Transfer An ISA and Get A New One

May 18, 2011

This question has come across our desk in many different forms, so we will try to help make this as clear as possible. The language on the HMRC website is very confusing to say the least. It takes several readings in most cases to fully understand exactly what they are trying to say. Transferring an […]

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Is a Fixed or Variable ISA Best for 2011

May 18, 2011

This is a great question, but the answer is really up to the depositor. Every situation is different and the answer depends on what exactly the depositor needs and expects from his or her ISA account. Here is some basic information that should make the decision a bit easier when choosing what type of ISA […]

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Can My Wife and I Join Our Two ISAs Together

May 17, 2011

The answer to this question is actually right in the name of the account. ISA accounts are Individual Savings Accounts. Unlike many other investment types, combining this particular savings account with a spouse is not allowed. While it would be nice to join efforts and increase your ability to earn, this is unfortunately not an […]

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Will New Junior ISAs Be For All Under 16s

May 17, 2011

This is a topic that has not as of yet been completely made clear. However, there are a few facts that we do know concerning Junior ISAs. Depending upon the child’s age, parents do, however, have several options they can pursue to create savings for their child. The Child Trust Fund, or CTF, is only […]

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How Do I Find the Best Cash ISA Around

May 17, 2011

If you are looking for the best ISA rates, the Internet is the best tool at your disposal. Numerous sites available offer tables of the best ISAs with current rates. While comparing the different ISAs available, there are a few things to keep in mind to make sure you are indeed getting the best ISA […]

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I am Confused About Switching ISAs How Do I Do It

May 17, 2011

Transferring an ISA is actually quite simple and can be handled with little drama or stress. Here are some tips on how to make this happen as quickly as possible and providing the most benefit to you. There is really no need to transfer unless you find a better rate. Check your current rate with […]

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I am Not British-Can I Open An ISA

May 17, 2011

Reading over the HMRC website can easily create confusion on this point. I actually had to read it over several times before fully comprehending all of its points, so I completely understand your frustrations on this matter. After reading it fully, however, we do indeed have an answer for you. In order to open ISA […]

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Can I Transfer My ISA Myself to Avoid Delays

May 16, 2011

The only way for a person to make the transfer themselves would be to actually withdrawal the money and then open a new account. If this is done, the investor will lose the tax-free status of the investment and have to pay taxes on the money that has been taken out of the ISA accounts. […]

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How Can I Save Left Over ISA Allowance

May 16, 2011

In most cases, an investor is not permitted to add to more than one ISA. However, there is an exception on the market at the current time. M&S Money now has an ISA that allows the consumer to use any left-over allowance as long as they are putting it into a fund that shares the […]

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What Can Happen If I Pay Into Too Many ISAs At One Time

May 16, 2011

Assuming that this is an innocent mistake, it can be fixed. The yearly allowance for ISA accounts is £10,200. Any excess payment over that amount is considered invalid. If you happen to discover that an excess payment was made, this is not a mistake you should attempt to correct on your own. When the excess payment […]

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Can I Transfer One ISA and Open Another at the Same Time

May 16, 2011

The law states that every individual can have one ISA per tax year. If you are only transferring an old ISA to a new provider and opening up a new one for the current year, you are well within your legal rights. The fact that you are transferring an old ISA has nothing to do […]

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Is an ISA the Best Way to Save for My Son or Daughter’s Wedding

May 16, 2011

There are many different opportunities available for short-term savings, but none of them offer the benefits of tax-free earnings that an ISA offers. Having said that, be careful before jumping in with both feet, as you will want to have a general idea of when the big day is going to occur. We say this […]

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Do I Lose the Bonus If I Transfer an ISA Early

May 15, 2011

Bonuses are becoming very commonplace in offering ISAs. Most institutions will have some type of restrictions that must be met in order for the full bonus to be received. As with anything, there are exceptions to every rule, so it is important to read the fine print before moving forward in opening up any isa […]

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Are There Charges for Transferring an ISA

May 15, 2011

An ISA offers residents the opportunity to increase their savings. There are several types of ISAs available, and it would depend which type a person is contributing to in order to figure out if there will be any fees or not. An easy access ISA will more than likely have not fees when the funds […]

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Do I Have To Open a New ISA Every Single Year

May 15, 2011

This will largely depend on the type of ISA that you currently have. Most variable rate ISAs will offer the ability to make further contributions each year. While there are exceptions to this rule, it is more likely that you will be able to add to the account. Fixed rate isa accounts are another story completely. […]

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Is an ISA or a bond at 4 percent superior this year

May 15, 2011

The key here is the rate of interest on the ISA. All interest paid on isa accounts is tax free; therefore, the Interest rate on the bond must be much higher to offset the taxes being paid when the bond matures. It is also important to realize that most institutions will lock in a higher rate […]

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Can I Top Up the ISA I Opened in 2009

May 15, 2011

Much of this depends on the type of ISA you have and how much money is being invested. If you are contributing to a variable rate ISA, the extra contribution should be okay. If the ISA is a fixed rate, it is unlikely any further contributions will be possible. In the current year, a person […]

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