What is an ISA?
An ISA (Individual Saving Account) is a tax-efficient way to invest your hard earned cash. There are two types: cash ISAs (not offered by Skandia) and stocks and shares ISAs. You can pay a maximum of £11,520 into a stocks and shares ISA over the course of the current tax year
(6 April 2013 – 5 April 2014).
What are the benefits of an ISA?
The primary benefit of an ISA is that it’s a tax-efficient way to invest. There is no personal liability to tax on income or growth with your ISA and you don’t even have to declare it in your tax returns. In the medium to long term an ISA has the potential to provide attractive investment returns.
Each year you get a new ISA allowance, which rises year-on-year with inflation. If you take advantage of investing your full allowance over a number of years, the tax savings on the amounts invested can be significant.
Why choose an ISA with Skandia?
As a five star service provider, Skandia is proud to have won a number of industry awards, including the ‘highly commended’ award in the Best ISA Provider category*. As such, we offer a number of benefits as standard:
With access to around 1,100 unit trusts and OEIC funds from more than 80 fund managers, you are able to spread and adapt your investments in line with your savings goals and attitude to risk. (For more on funds, see understanding investment funds
Cash in the whole or part of your ISA whenever you wish.
Switch funds as you wish, free of any administration charge**.
Move any existing ISAs to us without any loss of tax benefits.
Have easy access to your money through regular withdrawals or one-off payments.
*Investments, Life and Pensions Moneyfacts Awards, September 2009.
**Skandia does not currently charge you for switching funds.
Skandia Investment Solutions, our market-leading investment platform, enables you to hold and manage all your fund-based investments within a single, consolidated portfolio.
Keep track of all your investments with a single summary document, no matter how many funds you invest in.
To find out more about Skandia’s stocks and shares ISAs, please speak to a financial adviser who will be able to discuss your options and recommend investments to suit your needs.