Your ISAs (Individual Savings Account) are now a more efficient savings tool. ISAs have been re-named New Individual Savings Accounts (NISAs) and the move from ISA to NISA results in two main changes: an increase in savings limits and more flexibility between cash / stocks and shares.
Their purpose has always been to help individuals save, without being subject to income or capital gain taxes. It is now even easier to save, as a result of the change to NISAs that took effect from the 1st of July.
Junior NISAs have also benefited with a raised limit of £4000 – an attractive way to save for your children’s or grandchildren’s education, gap years or first house deposits.
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