The ISA guide shows us that the ISA is a very beneficial way of saving and investing money. That the ISA; an investment program provided by the government; was established so that more people in the UK can avail of services that encourage earnings and investments without worrying about tax. The ISA has proven its worth and it should be availed by everyone.

 

What Are The Advantages Of ISA?

  • There are a lot of advantages to benefit from the ISA. First and foremost, anyone in the UK can have an ISA. As long as you can produce information such as a National Insurance number, a valid identification of who you are and where you live and a utility or tax bill, you can be viable of opening an ISA.
  • If you are sixteen or older, you may choose between cash ISA or a stocks and shares ISA. Each type has its own way of increasing your money.
  • If you are below sixteen, you may also open a Junior ISA as long as you have parental responsibility. Once you become eighteen, your account will be changed into the adult account where you will then be given full access to your money.
  • This is good for retirement because it will provide you with savings you can use then.
  • The money in your ISA will continue to gain interest even if you have moved to a different country and as long as you don’t close or discontinue your current ISA. Even if you are in a different country, your money will continuously gain interest.

 

What Are The Disadvantages Of ISA?

  • The only disadvantage of the ISA is not being able to use it for pension.

 

Who Should Apply For An ISA According To The ISA Guide?

Any resident form the United Kingdom can apply for an ISA. You can be under sixteen and avail of a Junior ISA. You can be eighteen and older and avail of either the cash ISA or stocks and shared ISA. As long as you can provide the bank with all its required documents and all your papers are valid, you can immediately open an account.

 

When Should You Apply For An ISA According To The ISA Guide?

ISA GuideYou may apply anytime but you should start now to increase your earnings and gains. There are some suggestions though that it is best to apply on the months of February and march because it is when the best deals and offers are given. Some say this is done by banks in order to create a buzz that will encourage more people to avail of ISAs.

There is no doubt that ISAs are a great way of saving up for the future and of earning gains and interests through investments. Since the world is experiencing a crisis, the ISA gives us a hint of hope that we are still able to make it through these hard times. With the ISA guide, the more we are determined to avail of this government program that can help us grow our money.