Think of an Individual Savings Account (ISA) as a handy tax-proof box for your investments – once they are inside, you don’t pay tax on any growth or income they generate.
You can shelter up to £10,200 in an Investment ISA this tax year (2010/11). You pick the types of investment you want, from the wide range on offer and you can change that mix any time you like.
The value of investments and their income can fall as well as rise and you may get back less than the amount you invested. If you are in any doubt about investing in an ISA, you should consult a financial adviser.
The value to you of the favourable tax treatment ISAs offer will depend on your individual circumstances. You should bear in mind that that tax rules may change and that this favourable treatment might not continue indefinitely.
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