What is an ISA?
ISA is short for Individual Savings Account, a type of
tax free savings or investment scheme that the government
introduced in April 1999 to replace Personal Equity Plans
(PEPs) and Tex Exempt Special Savings Accounts (TESSAs).
They were introduced as a way of encouraging people to
save money, with the main incentive being the fact that
any growth in capital is tax free, be it through interest
accrual or increases in the value of any underlying assets.
ISAs are essentially a wrapper that can invest in one of
three things:
