If you are a tax payer in UK, Individual Savings Accounts (ISAs) are a fantastic way of increasing wealth without having to worry about Income and Capital Gains Tax. With the current individual personal allowance of £20,000 per tax year, ISAs are a very popular choice for the many investors, providing an alternative to just simply leaving the money in a bank or savings account. Indeed, with the current low rates of interest and no real positive outlook for savers, leaving £20,000 in a bank or savings account may not make financial sense.
It is, therefore, more important than ever for people to ensure their finances are being well looked after and maintained. What are the alternatives? A Cash ISA is perhaps the closest comparison to a regular UK savings account, but this still has its limitations on what a bank or building society is prepared to pay in interest. A Stocks and Shares ISA offer a major difference to both a Cash ISA and a savings account. There are a wide variety of ISA managers in the UK who actively manage money and invest in a range of asset classes such as shares in the UK and overseas, bonds, fixed interest and the more exotic emerging markets. With all of this combined there is the potential for greater returns through a Stocks and Shares ISA.
At Crystal, we can provide recommendations after understanding your investment objectives. Whether you are investing for capital growth over time or need to generate an income to help meet day to day outgoings, we will carry out our research so that we can match the right solution for your need.
While doing all of this we make sure that your Stocks and Shares ISA matches the level of risk you are comfortable with. We can help the most cautious investor right the way through to the adventurous investor. With the current tax year fast approaching to end on the 5th April 2019, take steps to use your ISA allowance otherwise you will miss the opportunity. If you are looking to invest for the first time or transfer your existing Cash ISA or Stocks and Shares ISA contact Jinit Shah at Crystal Financial Solutions today on 020 8901 3737 or visit our website: https://www.crystalfs.co.uk.
