individual savings account

(redirected from Cash ISA)

individual savings account (ISA)

a SAVINGS scheme introduced by the UK government in 1999 to replace PERSONAL EQUITY PLANS which allows investors to secure tax-free interest and capital gains. ISAs provide for a maximum investment of £7000 per tax year. Initially, ISA investment was limited to stocks and shares growth and income funds. More recently, under ‘mini ISA’ rules up to £3000 can be invested in a mini stocks and shares ISA, up to £3000 in a mini cash ISA and up to £1000 in a mini insurance ISA. In the case of ‘maxi ISAs’ the above allowances still apply with the exception that it is possible to invest all £7000 in stocks and shares. See PORTFOLIO, TRACKER FUND.

individual savings account (ISA)

a SAVINGS scheme, introduced by the UK government in 1999 to replace PERSONAL EQUITY PLANS, that allows investors to secure tax-free interest and capital gains. ISAs provide for a maximum investment of £7,000. Initially, ISAs covered only stocks and shares but have been extended to include other assets, specifically cash and insurance. Under ‘mini ISA’ rules, up to £3,000 can be invested in a mini stocks and shares ISA, up to £3,000 in a mini cash ISA and up to £1,000 in a mini insurance ISA. In the case of ‘maxi ISAs’ the above allowances still apply with the exception that it is possible to invest all £7,000 in stocks and shares. See PORTFOLIO, TRACKER FUND.
References in periodicals archive ?
Standard ISA - this could be a tax-free cash ISA or one where money is invested in stocks and shares.
You can invest in up to three separate ISAs each tax year; a cash ISA (including the Help to Buy: ISA), a stocks and shares ISA and, as of 6th April 2016, an Innovative Finance ISA.
SAVERS are losing out on almost PS1bn by not putting money into their cash Isa accounts, Barclays has warned.
NEARLY 40million people don't know they can save their full PS15,000 allowance into a cash ISA, according to research from Santander.
Q In April I put the full PS5,940 into a five-year fixed rate cash ISA.
The typical amount placed into a cash ISA last year was PS3,704, while SA last year was PS3,704, while the average amount put in a stocks and shares ISA was PS6,163.
Alternatively up to 50 per cent can be put into a cash ISA and the remainder of the PS11,880 allowance, if it is used, will be made up of stocks and shares.
One in five of those surveyed said that they would save more in a cash ISA, while 7% of savers who were questioned say that they will save more in a stocks and shares ISA, with 14% saying that they will save more across both cash and stocks and shares.
Everyone aged over 16 in the UK has a brand new cash ISA allowance, and unless you've already put money in since the tax year started on April 6, you can put PS5,940 in your cash ISA allowance (or up to PS11,880 in stocks and shares).
WORLDWIDE COMPUTER PRODUCTS NEWS-March 25, 2014-HSBC launches Loyalty Cash ISA on mobile banking app