Why you need an ISA - MoneyWeek Investment Tutorials
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- Опубліковано 17 лют 2011
- Tim Bennett explains the tax benefits and other perks of an ISA, as well as detailing the different investments you can make under the tax efficient scheme.
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As of 2019 January, the max allowance is £20,000
Great content!
Very clear!
When should I open a saving isa account shall I open one in April
i currently have a stocks and shares isa for year 16/17. Can i get another one for 17/18 and keep both with their full investment limit allowances?
is this ethical to do? is it compound interest? what are some other options for saving money?
My savings account gives me a whopping 0.5%. So with £10,000 in I get £50. So that £50 interest is protected from 25% income tax ie £12.50? I'd probably drop that much money in a year.
Now if you'd told me to get bitcoin...
Hello 2011. Interest rates didn’t rise; they stayed historically low.
Great video, thanks! Stocks & Shares ISA question: is my yearly 20,000£ allowance defined by the amount of money I pay in or defined by the value of the stocks & shares I hold? For instance, if I pay in 19,000£ and then a month later the market value rises to 21,000£ because the stocks do well - am I still within the allowance or have I exceeded it? Many thanks!!
This is available for the UK only correct?
Yes uk citizens within the uk. other country's will have similar products for there residents. Id imagine.
Can i use this video in my presentation? What are the copyright issues?
Though the rates went lower
Here in January 2022
I don't understand. So is it only designed for those who invest?
You can put cash in it too, but the max-limit is half
A question: which would be safer if the banking system collapsed due to war etc
1. ISA
2.current account
???
Neither, quite frankly everyone would be fucked. Best to invest for the long term and hope that the world isn't fucked when you want to use it.
Thanks for commenting, I’d rather advise you look up to investing and making huge profit in Bitcoin with Mr José Smith he’s currently managing my crypto portfolio and making great return’s.
Is this channel still open for Questions by the public??
1) can a person in South Africa have an ISA account or are they called something else ??
2) the guy in video mentioned shears does this also include unit-trusts and ETF investing??
3) what are the costs to apply for an ISA account??
4) the max amount is or was 10200.00 pounds in 2011 ok so if that's the max what is the allowed accumulated capitalize amount allowed that can be accumulated after the maxim amount??
Pay an accountant. what dya want, free tax advice?
Say £10k is the tax free limit. You deposited £10 into an isa and your money tripled from the shares you owned after a year. On year 2 you wanna add another £10k, which is also year 2's tax free limit. Now your money is sub totalling to £40k plus the dividend £5k totalling to £45k. Will you get taxed on that?
Thanks for commenting, I’d rather advise you look up to investing and making huge profit in Bitcoin with Mr José Smith he’s currently managing my crypto portfolio and making great return’s.
Thanks for this I'm completely blonde when it comes to finance. This is well explained Tim thanks. (I know it's 2016/17 so is there an update to this? i.e. have things changed in the last 5 years??
dougieladd yeah some things have changed, the investment limit has gone up and also you can now invest in AIM stocks
Is "Isa" just a British version of the American "401k" ?
+Khaled S
It's similar during the accumulation phase; except that under ISA there is a yearly cap on how much you can contribute and you're allowed to make withdrawals at any time. Under 401k, I think (I'm not an american) you can't make withdrawals and you're compelled to buy an annuity with your pot at retirement. That's the main differences.
I think it’s more like a Roth IRA
The cash ISA advice seems stupid.. the benefit of ISAs is to keep them and enjoy permanent tax breaks. Not sell them up every year. Stocks and shares are the only worthwhile use of an ISA. Invest in something extremely long term to the maximum allowance, forever get tax breaks on the gain and add more in separate ISAs every year.
ISA'a are no longer relevant if your expected interest is below £1000. Current accounts provide a far better interest rate than ISA's.
£1000 isn't much. This is particularly true if you're using an Innovative finance isa where you can be earning 7%. The allowance is also only £500 if you're a higher rate tax payer
Might not be relevant in a single year, but the point is to be tax efficient in the long term.