ISA stands for Individual Savings Account. They’re the Government’s way of encouraging you to save by giving you a tax incentive.
Normally, on things like bank and building society accounts,
unit trusts and the like, the taxman takes at least 20% off the
interest your savings earn. Not with an ISA. You don’t even
have to tell the taxman about ISA investments.
Each tax year you can invest up to £7,200. You can either invest it all in a Stocks & Shares ISA, or invest up to £3,600 in a Cash ISA with the rest in a Stocks & Shares ISA.
We have 3 Stocks and Shares ISAs at Virgin Money – our Climate
Change ISA, our FTSE All-Share Tracker ISA and our Bond and Gilt ISA.
We also have a Cash ISA which gives you daily tax-free interest and easy access to your money. Just like a deposit account – but without the tax.
For investments in our FTSE All-Share Tracker ISA or our Bond and Gilt ISA there's a single annual management charge of 1%, and that's it. There are no other charges, and no charges at all on our Cash ISA.
With our Climate Change ISA there's an annual management charge of 1.75%. There may also be a
performance related fee, which we only earn if we outperform agreed benchmarks.
