ISA, or Individual Savings Accounts, are a tax efficient way to save. Money invested in an isa is not subject to either capital gains tax or income tax, so these can be an ideal way to save for the future.

Who can open an ISA

individuals who are 18 years old or over can open an ISA. Also people aged 16 and over can open a Mini Cash ISA or the cash component of a Maxi ISA.

You must be UK residents for tax purposes but there are some exceptions allowing people working abroad or their spouses, for example Civil Servants or the Armed Forces who are paid by the British Government, to open an ISA.

There are also special rules for people who have maturing TESSAs.

ISAs cannot be held on behalf of other people and cannot be held by companies or partnerships or other types of organisation.


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