The Individual Savings Account, or ISA, is a form of tax efficient investment available to residents of the United Kingdom.
Introduced in 1999, these accounts have significant tax advantages. Once invested, all contributions are exempt from UK income tax and capital gains tax. There is also no tax payable on withdrawals at any stage.
These investments, which now have an annual limit of £20,000 (tax year 2020 / 2021), can be held in a number of different types of account, ranging from the low risk (and low return) Cash ISAs through to the risk-rated Investment ISA and the more esoteric Innovative Finance ISA.
However, like all investments, ISAs should be reviewed for their suitability on a regular basis, never more so than currently where the gulf between poor performing sectors and those sectors that have performed much better is wider than ever.
At Blackden Financial, you can now have your ISAs professionally managed in Switzerland by UK qualified financial planners, thanks to technological innovations made possible by our investment platform partnerships.