Copy article

Writing about ISAs - all kinds

Journalist: Samantha Downes, Freelance and Pumpkin Pensions

ended 23. February 2023

Looking for any newsy angles or interesting top lines to include in a guide to ISAs on City A.M - some of our readers will be quite stock market savvy while others may not. All will be commuters looking for a home for their savings.

2 responses from the Newspage community

Copy all

Copy

Editor
Samuel Mather-Holgate
Independent Financial Adviser at Mather and Murray Financial
If you’re eligible for a lifetime ISA, max it out. It’s, arguably, the most tax efficient investment as you get a 25% bonus going in and no tax at all coming out. That’s more generous than a pension. There are restrictions though, including age to take one out and access your money without penalty, the small amount you can save and the purpose of the savings.
Copy

Daniel Jones
Lifestyle Financial Planner at DGS Chartered Financial Planners
ISAs can be an excellent, tax-efficient, way of building and growing your wealth over the long term.

If you're unsure about investing at this time, it would still be sensible to consider opening a Cash ISA. This ensures you are at least using, not losing, your allowance and would have the option of converting to a Stocks & Shares ISA in the future.

With the tax burden being the highest in decades and set to rise further, ISAs provide a great shelter from tax.

With the upcoming reduction to the Capital Gains Tax allowance from £12,300 to £6,000 for the 2023/24 tax year, reducing further to £3,000 for the 2024/25 tax year, it's all the more vital that investors take advantage of their ISA allowance. ISAs have the benefit of being free of income or capital gains tax as well as enabling tax-free withdrawals.