8th August 2024
Individual Savings Accounts – a guide to ISA investing (45 minutes)
ISAs offer a tax-efficient way to save and invest; find out what they are and how they work
Key takeaways
- Interest, Dividends and Capital Gains earned within an Individual Savings Accounts (ISA) are not subject to UK Income Tax, Dividend Tax or Capital Gains Tax (CGT).
- Since the 6th of April 2024, it is possible to transfer all or part of the savings in the ISA from one provider to another, at any time.
- The value of an ISA at the date of death will form part of a deceased investor’s estate for IHT purposes.
- Additional Permitted Subscription (APS) gives spouse or civil partner an increased ISA allowance equal to their deceased spouse’s ISA value, as at the date of death, in addition to the normal annual ISA subscription limit.