What is an ISA?

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I get loads of questions from viewers about ISAs, so this first video takes things back to the start: what is an ISA - aka the Individual Savings Account?
I look at the basic rules and the five main types of ISA , plus an extra variation!
WATCH NEXT
Lifetime ISAs explained • Lifetime ISA explained...
READ MORE
What is an ISA bit.ly/whatISAYT
BEST BUY ISAS
Our updated Cash ISA tables bit.ly/Best_ISAs_YT
#ISAs #savingsaccounts #taxfree
00:00 What is an ISA?
03:01 ISA rules
05:46 What is a Cash ISA?
08:42 What is a Stocks and Shares ISA?
09:52 What is an Innovative Finance ISA?
10:52 What is a Lifetime ISA?
13:32 What is a Junior ISA?
14:40 What is a Flexible ISA?
MORE
S U B S C R I B E / @becleverwithyourcash
N E W S L E T T E R - becleverwithyourcash.com/news...
(You'll also get a free Quidco bonus for signing up)
T W I T T E R - / beclevercash
I N S T A G R A M - / becleverwithyourcash
F A C E B O O K C O M M U N I T Y - / 2661970707423383
W E B S I T E - becleverwithyourcash.com
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.

Опубликовано:

28 июн 2024

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Комментарии : 33

@danielo9703 10 месяцев назад

Thanks for making this video very informative

@hedwigwendell-crumb91 10 месяцев назад

Yeay! The gorgeous Andy 🎉🎉🎉❤❤❤

@richfish101 10 месяцев назад

Thanks for doing ISA videos, Please do a video detailing transfers

@AllThatJazz_ 6 месяцев назад

I would be very interested in seeing a review of the different ISA platforms.

@nevadada 8 месяцев назад

Dude, we need something like this in NZ

@Len_J_ 10 месяцев назад

Hi I have a question what is the best Stocks and Shares ISA? Please do a review!

@ML-jr1yz 10 месяцев назад

I done the 7 year fixed at 4,95% at the time.

@nataliastelter4913 5 месяцев назад

Thank you for the video. What if I would like to buy a property abroad? Could I use the funds for it?

@killeremma 5 месяцев назад

Hey, I'm guessing it's beneficial to add to an existing isa in the next tax year for compound interest reasons rather than starting a new one on a new platofrm?

@traciesmobile683 10 месяцев назад

I am using my flexible isa for holding money for bills.

@killeremma 5 месяцев назад

also is there ever a point where the earnings are locked? Or does it just go up and down - I mean like and the end of the tax year does it just keep fluctuating - how do you kjnow wgat you % increase/decrease is

@robbieeccleston1312 10 месяцев назад

Hello Andy

@darrengristey6831 10 месяцев назад

Hi Andy, i am new to ISA’s and I opened a cash ISA with 20k at Santander in March just before this years cut off date. I then added another 20k after 7th April to max out last years and this years allowances. So I have 40k in this account, will I be getting interest on the 40k that’s in their this year? Also when it comes around to next years allowance can I put in another 20k in April 24 and have 60k in total and get interest on 60k if it remains in there for following financial year?

@stevemahoney5209 10 месяцев назад

I'm guessing this is an easy access account. Yes, you will receive interest on the full amount tax free. Just add the extra funds from 6th April '24, as that's when the new financial year begins and you can add another £20k 😊😊

@michalszymi40 10 месяцев назад

Thanks Andy. One question in regards year allowance. If I would put full £20k in 2 year fix, can I put another £20k after a year on another ISA or the 2 year fix will not allow me to do it?

@Len_J_ 10 месяцев назад

Doesn't matter. You can put away 20K every year.

@saaversteen 10 месяцев назад

@@Len_J_ can he put 20k into the 2 year fix next year?

@Len_J_ 10 месяцев назад

@@saaversteen No. Not into a fixed ISA.

@anythingidontcareyoutube7231 2 месяца назад

What confuses me is if you did manage £20000 in 1st year and then toped up £20000 the next year topped it up for say 5 years so by then its £100000 is that posable or does the isa close end of tax year gives you all the money then you start clean again next year

@Aaa894 10 месяцев назад

Where does the help to buy Isa fit into all these categories and having that and some of the others?

@BeCleverWithYourCash 10 месяцев назад

Sadly help to buy isa is no longer available. If you have one already you need to decide if it’s better to keep that or switch or a Lifetime ISA.

@clivevino1560 3 месяца назад

If I were to put in £10000 into a Isa investment ,and made a gain of £20000 , is my original stake still £10000 ?

@wolvoman1 7 месяцев назад

I had a cash isa with nationwide, at 4.25%, with the full allowance of 20k, i transferred to Barclays isa at 5.25%, when the transfer completed i had £20,175.06 balance, i assume the £175.06 is interest earned from nationwide, question is, will i get taxed on that £175.06?

@wolvoman1 7 месяцев назад

Well, thanks for the advice people !!

@Ezinma88 6 месяцев назад

No. It never really 'came out' of the ISA pipeline. Unless of course you decided - for some inexplicable reason - to not use the ISA switching service and just did the transfer manually yourself.

@wolvoman1 6 месяцев назад

@@Ezinma88 Thanks for your reply. Yes I used the isa switching service, just the confusion of seeing £20,175.06 in an account that has a 20k maximum.

@deniscoupe194 3 месяца назад

I just use chip interest every month isa are confusing .

@Keyzzz87 10 месяцев назад

Wondering who polices the 20k total ISA contribution per year? £4k LISA and £16 S&S ISA. What happens if you put say £18k in S&S by mistake due to direct debit gone over the limit by mistake just 1 yr? 👀 Vaguely remember LISA asked for NI details but cannot recall with S&S ISA. Is it like the triple crown 👑 switch with NatWest/RBS/Ulster bank switch incentive that you can push the boat out a bit 😂 Curious to know the consequences! 😱

@lawrencer25 9 месяцев назад

HMRC as all your details. If you know you have over payed , then you shouid get in contact with them ... You do not want HMRC contract you 🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️👍

@Keyzzz87 9 месяцев назад

@@lawrencer25 yeah okay thanks. Cool, managed to find out the answer by bit more extensive googling. Continue with investing-> slow and steady wins the race? No quick wins…