It’s not often we get something for free in life and although ISAs are not totally tax free (because the funds you invest in are not able to reclaim the 10% tax credit on dividends), ISAs are possibly the closest we get to a tax-free investment.
With all of the busy-ness of life, it is easy to forget to use your tax-free allowances of more than £10,500 (£10,680 to be precise). However much you can squirrel away, do so in an ISA whilst it is fresh on your mind and take advantage of the income-tax-free and capital-gains-tax-free environment that it gives you.
(Do keep in mind though that at some point you could fall foul of an Inheritance Tax liability without some careful planning.)
If you would like to discuss your ISA and other investments without any obligation, please feel free to contact us by telephone, email or submit a request for Financial Advice here.