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FRIDAY FAQ: Are ISA’s still worth investing into in 2018?

Every Friday we aim to post an answer to a FAQ about mortgages, tax, investments, money matters, business or retirement. You can have your say too. Send an email with your FAQ to info@dentalandmedical.com


This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. The Financial Conduct Authority does not regulate tax advice.


Q. Are ISA’s still worth investing into in 2018?

Answer: An ISA is a tax-free account for your savings or investments. You can save up to £20,000 in a cash ISA, stocks and shares ISA, an innovative finance ISA, a Help to Buy ISA, a Lifetime ISA or a mixture of all.

There is also an ISA called a Lifetime ISA (LISA). There are strict specifications on who can apply for a LISA.

These are set out in our article ‘How about setting a date with LISA’.

The maximum that can be paid into a LISA each tax year is £4,000. This means you can still invest the remaining £16,000 into another form of ISA.

Whilst, tax rates paid on ISA’s are still low, a major benefit is that any interest you earn is tax free, any investments held in a stocks and shares ISA are also free from Capital Gains Tax.

Plus, you don’t have to declare ISA’s on your tax return.

For more information about ISA planning in 2018, speak to your financial adviser who can discuss your options.


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