The ISA is probably the best financial handout you’ll receive from the government—here's what you should do with itby Stuart Law / February 19, 2018 / Leave a comment
The Individual Savings Account (ISA) has come a long way since Gordon Brown introduced it in 1999. It was a successor to Personal Equity Plans (PEPs)—which had been created in the 80s to promote equity ownership amongst the public—and was designed to make tax-free saving simple.
An ISA itself isn’t an investment, but instead is a wrapper which sits around your cash and ensures any returns you make are tax-free. We’ve seen ISA limits grow significantly over the years, from £7,000 to £20,000 per annum today, and it has become a key part of most personal investment strategies. It’s probably the best financial handout you’ll receive from the government.