An Individual Savings Account (ISA; /ˈaɪsə/) is a financial product available to residents of the United Kingdom. It is designed for the purpose of investment and savings with a favourable tax status. Money is contributed from after tax income and not subjected to income tax or capital gains tax within a holding or upon withdrawal. Cash and a broad range of investments can be held and there is no restriction on when or how much money can be withdrawn. Funds can not be used as security for a loan. It is not a pension product but can be a useful complement to a pension for retirement income, particularly when it is desirable to draw down capital at a faster rate than permitted in a pension.
Read more about Individual Savings Account: Origins, Junior ISAs, Subscription Limits, Transfer Rules, Fund Supermarkets and Self Select ISA Providers, Charges, Tax Treatment, CAT Standards, Transition and Older Types of ISA, Similar Schemes in Other Countries
Other articles related to "individual savings account, savings account, individual, account":
... Non-pension products Tax-Free Savings Account (TFSA) (Canada) Pensions Superannuation in Australia Individual Retirement Account (IRA), the Roth IRA type is close except for its extra restrictions, and ...
Famous quotes containing the words account and/or individual:
“To develop an empiricist account of science is to depict it as involving a search for truth only about the empirical world, about what is actual and observable.... It must involve throughout a resolute rejection of the demand for an explanation of the regularities in the observable course of nature, by means of truths concerning a reality beyond what is actual and observable, as a demand which plays no role in the scientific enterprise.”
—Bas Van Fraassen (b. 1941)
“Whether or not you have children yourself, you are a parent to the next generation. If we can only stop thinking of children as individual property and think of them as the next generation, then we can realize we all have a role to play.”
—Charlotte Davis Kasl (20th century)