An ISA is normally a collective investment which has certain tax advantages whilst the monies are invested. To qualify for the tax advantages the investor must be a UK resident over the age of 18. There is also a restriction on the amount that can be invested each tax year. The tax advantages protect the ISA from Income Tax or Capital Gains Tax which can potentially make a big difference over time. If money invested in the ISA is left, you’ll potentially be making the most of compound returns.
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