ISAs or Individual Savings Accounts were introduced by the Government to encourage more people to save. Investing in an ISA allows you to shelter your money from the taxman as you can keep all the proceeds that you receive from that investment without paying income or capital gains tax.
You don't even have to declare your ISA on your tax return. The favourable tax treatment of ISAs may not be maintained in the future.
The overall investment limit is currently £7200 per tax year.
It is not a type of investment but a wrapper that allows you to hold different types of savings within it. There are two different types of ISA - Cash ISA & Stocks & Shares ISA.
Cash ISA
You can invest
up to a maximum of £3,600 in stocks and shares
ISA. You can invest up to maximum of £7,200. We
offer only stocks and shares ISA.
LIC UK offers Individual Saving Account in UK
(ISA) which enables to save tax in UK.To get all
information about Life Insurance Company in UK
and LIC Individual Saving Account and Investment
Plans in UK please visit www.liciuk.com.
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