13:19 01 May 2013
ISAs or Individual Savings Accounts are some of the best investment vehicles that you can have as they come with tax benefits. In reference to autumn last year, investors could put up to £11,520 into cash and/or stocks and shares ISA without worrying about getting taxed. This means that any amount earned on these accounts was tax-free.
Right now, there are so many different providers offering ISAs making the process of choosing the best one quite difficult. However, with ample research and doing comparison, this can be done.
Start by analyzing the past performance of a particular product. Although this doesn’t guarantee future success, this will give you peace of mind knowing that the product was able to successfully ride the volatility of the market historically giving it better chances of great performance in the future.
Before you open an ISA, you need to know the fees that you’re going to pay. Aside from setting –up fees, you would also want to know transfer fees. This is the amount that you need to pay should you decide to switch providers. Look for providers which do not charge much but have proven track record.
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