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UK ISA Accounts Explained | Everything you Need to Know (2023)
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- เผยแพร่เมื่อ 17 ส.ค. 2024
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This video is going to be your go-to guide on all things UK ISA accounts. I will start by explaining exactly what an ISA is and what benefits ISAs provide.
From there, I will move on to discussing the different ISA limits available for the tax year 2023/24. I will then proceed to cover all the different types of ISA accounts that you can open, including who they best suit, their limitations, and the best providers currently on the market.
Finally, I will conclude the video with some of my top ISA tips that could potentially save you thousands in the long term.
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I'm an Online Entrepreneur & Investor from the UK that makes videos about Personal Finance & Entrepreneurship.
**Disclaimer: None of this information is to be considered as investment advice, please use it for entertainment & educational purposes only. Links above may be affiliate links where I get a kick back at no extra cost to you.
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Used your link, deposited funds and verified everything, didn't get the reward!
Great vid bro. Really helpful, informative and understandable. Keep it up you are destined for success on youtube with content this clean!
I’ve been hoping you’d do a video on ISA’s, thanks Christos!
Ahh brilliant, Did you find it helpful? Do you feel you have a better understanding of them now?
Amazingly informative - thanks so much :)
Brilliant video with MANY helpful features and hints. One question: If i transfer my ISA elsewhere, am I able to move just the actual money in the account OR the amount which would be in the account if it was 'full' for that year? (I have an available limit of £60K but have £50K saved.) Thanks!
Great vid and break down mate
Thank you very much sir!
Thank You so much
You're more than welcome my friend.
Advice for someone that has £50,000+ in a current account and is looking to put this into savers accounts to take advantage of interest rates and make as much money as possible?
I current invest roughly £2500 a year into a Vanguard S&S ISA meaning I have £17,500 left of my £20,000 yearly allowance to my knowledge? So I could drop £17,500 into the highest interest rate Cash ISA before April 5th of this year and not have to pay a penny in taxes. Then once April 6th comes around as we're technically into a new tax year I could do the exact same thing again, £2500 into my S&S ISA & £17,500 into that Cash ISA again which would allow me to max my annual allowance without paying any taxes?
Am I right in the things I'm saying above and how should I go about investing the further £10,000+? Can I just also put the remainding amount into my Cash ISA and then just pay taxes on the interest profits from that amount? Please help!
Can I declare my investments in Isa’s as expense?? I have to fill the self assessment and I want to declare 20.000£ of investment in Isa’s in UK. Is it possible ? Let me know please ❤
No, unfortunatley you cannot declare these as a business expense.
Hi, I have 20k savings, would you recommend an 5% ISA or a stocks and shares? I don’t earn a great wage about 28k so I wouldn’t say I’m flush 😂
What happens after a year once the 1 year fix rate finishes?
When you say reset it means ; can I put every year 20 k (eg: financial year 2020 I put 20k then in the 2021 it means I can put another 20k ( having in total 40k . Is it ????
Do you need to keep the money in the ISA for a a full year to not pay the tax on it?
No
Thanks for sharing the information.
Can expats/ skilled worker visa holder open ISA accounts?
Yes
Is it any age limit to start any Isa ?
Can we operate Cash ISA and Lifetime ISA at the same time? 20000 + 4000 = 24000 limit?
According to Barclays webpage (last updated Feb 2024), the money you put in your LISA will count towards that. So if you put £4,000 in the LISA this tax year - on top of which you'll get a 25% state bonus - you'll be able to put £16,000 into other ISAs
Is money deposited into ISA account tax deductable ?
No, that's the whole point of it. There's no tax to pay. 😂
@@deltaechomusicnh555 Good point.
@@deltaechomusicnh555 I don't think you understood my question. I know there are no taxes to pay on earnings from ISA account.
@mohammedali-rh7cq So what was your question?
its first subject to income tax.
U opened isa on April 2 2024 when will i get interest