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 ?
1 CASH ISA What: The safest and most straightforward ISA which is available to anyone aged 16 and over.
Money Saving Expert Martin Lewis has revealed how people can get the most from their savings with a new cash ISA.
YOU MAY WANT TO THINK AGAIN THE introduction of the personal savings allowance has led many savers to wonder whether it's worth bothering with a cash Isa, given savers no longer pay tax on the first PS1,000 of interest, or PS500 for higher rate taxpayers.
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.
When the cash ISA limit rose in July a few fixed rate providers set short deadlines for people to top up.
Despite the recent fanfare around the new ISA allowance, financial SA allowance, financial information website Moneyfacts has said the average return on offer on a cash ISA has actually grown worse SA has actually grown worse since the new rules came into place.
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