An ISA is an Individual Savings Account – an incentive introduced by the UK government in 1999 to encourage individuals to save and invest tax-free up to a maximum GBP 7,200 per annum. 2 forms of ISA exist – a Cash ISA or a Stocks and Shares ISA. An individual is permitted one of each type with a savings limit of GBP 3600 per ISA. This allowance may be paid in one go or at intervals and payments can be stopped at any time.
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