High Interest Saving Account – ISA - PowerPoint PPT Presentation

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High Interest Saving Account – ISA

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Learn about the high interest saving account which is ISA, who is eligible to invest in ISA, rules of transfer, what the charges if you transfer your cash ISA to another provider. It is best investment and saving opportunity that allow you earn more interest which tax- free. – PowerPoint PPT presentation

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Title: High Interest Saving Account – ISA


1
HIGH INTEREST SAVING ACCOUNT-ISAs
Presented By- Barringtonhowe
2
WHAT IS ISA?
What is an Individual Savings Account? 
An ISA is an Individual Savings Account. It is a
way to save or invest your money without any tax.
If you're starting to think about saving or
investing, ISAs could be a good place to begin.
Its a way of setting up an account or investment
so it can benefit from certain tax breaks.
3
WHO IS ELIGIBLE TO INVEST IN ISA.
  • You want to earn tax-free interest on your cash
    savings
  • You are a UK resident for tax purposes
  • You are aged 16 or over (junior ISAs are also
    available)

4
Rules Cash ISA Transfers
Buying your first home - The property costs
450,000 or less Term Agreement - Theyll pay a
25 withdrawal charge to use ISA saving if they
have a legal interest in property Saving for
later life - withdraw the money for owt else and
you pay a penalty  Returns - 9.85 per annum,
payable annually
5
Charges
  • If you withdraw early from a fixed-term account
    there might be charges.
  • Your provider might charge penalties and fees if
    you transfer your Cash ISA to
  • another provider

6
ADVANTAGES OF ISA
  • Your money will grow tax-free
  • You can only pay into one cash ISA
  • ISA withdrawal rules have changed
  • ISAs offer free money for first-time buyers

7
Take Advantage of this tax-years tax free
allowance
Address- Suite 163, 2 Lansdowne Row, Berkeley
Square, Mayfair, London, W1J6HL United
Kingdom Phone- 44 0203 0268820 Email Id -
Barrington Howe
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