An ISA (Individual Savings Account) is simply a tax-efficient way to save or invest.
The best way to think of an ISA is as a tax ‘wrapper’ – the wrapper protects your money and you aren’t charged tax on the interest you earn*, offering greater growth potential.
For each tax year, there is a limit to the amount you can invest in an ISA – the 2017/18 tax year allowance is £20,000, and can be invested in any combination of stocks and shares and/or cash.
The value of investments can go down as well as up and you may not get back the amount invested. The value of tax savings and eligibility to invest in an ISA depend on personal circumstances. All tax rules may change in future.
Our UK-based Fidelity Personal Investing team may call you to help you with any queries you may have concerning the process.