What is an ISA?

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!

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BEST BUY ISAS

#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?

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A B O U T A N D Y

DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.

[danielo]

Thanks for making this video very informative

[richfish]

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

[AllThatJazz_]

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

[nevadada]

Dude, we need something like this in NZ

[Len_J_]

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

[ML-jryz]

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

[nataliastelter]

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

[killeremma]

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?

[killeremma]

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

[traciesmobile]

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

[anythingidontcareyoutube]

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 is that posable or does the isa close end of tax year gives you all the money then you start clean again next year

[darrengristey]

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?

[michalszymi]

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?

[Aaa]

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

[wolvoman]

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?

[clivevino]

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

[deniscoupe]

I just use chip interest every month isa are confusing .

[Keyzzz]

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! 😱