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Your Complete ISA Guide

What an ISA is, and how it works

The different types of ISA available

How many ISAs you can have

What is the ISA allowance

Who can have an ISA

Are you suitable


An ISA is an individual savings account that allows you to save money over a longer term without paying tax on your interest. There are many benefits that come with using an ISA to save. You don’t pay tax on an ISA providing you don’t go over your allowance of £20,000. You are also exempt from paying capital gains tax on any interest you make on your ISA. Find out more with your Complete ISA Guide below, and with the specific sections for more information

This can make saving with an ISA a very attractive way to earn more money on your savings and help you meet your financial aspirations. Whether your saving up for something special or just want to put money away for a rainy day. GPM-Invest can introduce you to many products that will give you much higher returns than you’ll find at your high street bank.

You may be looking for a high interest ISA, or a 5 Year Fixed Rate ISA . We can advise on the current top ISA rates. And we tailor it to your individual circumstances, for instance, if you’re looking for the best ISA rates for over 60s. We’ll find the top ISA rates for you, matched to your personal level of risk and investment

There are many different types of ISA to help you save and invest depending on your goals and suitability. At GPM-Invest we have a dedicated team who can help you understand what is available to you without using complicated financial jargon to help you make the right financial decisions.

And that also includes if you have already invested. If you currently have a savings account and you’re wondering “How do I improve my ISA” then contact us for the right advice

Your Complete ISA Guide by GPM Invest

There are Seven different types of ISA available. However, the most common are Cash ISA’s, Stocks and Shares ISA’s, Help to Buy ISA’s and Innovative ISA’s.

Cash ISAs are tax free savings accounts. Any interest you earn doesn’t count towards your personal savings allowance so if you earn a higher rate of interest, you can protect more of it in an ISA.
Just like normal savings accounts, there are a variety of cash ISAs available, including instant access, regular savers and fixed-rate deals. You can withdraw your money immediately at any time.

Stocks & shares ISAs are typically managed by an online service, broker or fund manager. This allows you to invest in funds, shares and bonds. A bond is a loan to a company or government or you can choose to buy shares in individual companies. Some stocks & shares ISA providers may allow you to hold some of your allowance as cash within the stocks & shares ISA. But you’re free to open separate accounts if you prefer. The money you put in is free from capital gains and tax.

Help to Buy ISAs are for first time buyers only. You can save £1,200 in the first month of opening, and then £200 per month thereafter. When you use the funds to buy your first home, the government will add a 25% bonus (up to a maximum of £3,000) onto your savings to help you buy your first home.

Innovative finance ISAs are generally a loan from you to a business. These are usually property based and depend on the uplift of value once planning permission has been sought and developments have been built. These often pay much higher rates of returns and this interest isn’t taxed.
As with any ‘investing’, the more risk you take, the more reward you could get. Please cheack our suitability report.

You can have any number of the four main ISA types but you can only pay in to one of each type each tax year. You need to make sure the money you put in across all your ISAs each tax year doesn’t go over your ISA allowance.

How many ISAs can you have - Your Complete ISA Guide

Each tax year (6th April to 5th April) there’s a maximum amount you can put in ISA’s called the ISA allowance. You have until the 5TH April to each year to add the money to your ISA’sand the allowance each tear doesn’t carry over. The Isa allowance is only for the money you put in to ISA’s each year. It doesn’t include the total amount that’s in your ISA from previous tax years, or the money you earn from investments in your ISA.

What is the ISA Allowance - Your Complete ISA Guide

You must be a UK resident and over the age of 16 to have an ISA. From the age of 18 you can also have a Stocks and Shares ISA and Innovative ISA.It is not possible to have a joint ISA or open an ISA for another adult.

Who can have an ISA? Your Complete ISA Guide

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The investment projections we show are never a guaranteed predictor of future performance – they are there to give you context and help you make decisions about the kind of portfolio which may best suit your individual investment goals. You should not base your investment decision on past performance. With investment, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. If you are unsure if any of our products are the right choice for you, please seek independent financial advice.