<\/p>\n
A Stocks & Shares ISA and an Innovative Finance ISA are wrappers that can be put around a wide range of different investment products to help save you tax.<\/p>\n
A number of different types of investment can be held in an ISA, including:<\/strong> Whole allowance<\/strong> Your annual ISA allowance expires at the end of each tax year on 5 April and any unused allowance will be lost. It can\u2019t be rolled over to the following year. You can choose between making a lump sum investment and\/or making regular or ad hoc contributions throughout the tax year.<\/p>\n Investment value<\/strong> You can only pay into one Stocks & Shares ISA or Innovative Finance ISA in each tax year, but you can open a new ISA with a different provider each year if you want to. You don\u2019t have to use the same provider for your Cash ISA if you have one.<\/p>\n ISA rules on deceased spouse ISA transfers<\/strong> Transferring ISAs<\/strong> All ISA providers have to allow transfers out, but they don\u2019t have to allow transfers in. You can transfer money from a Cash ISA to a Stocks & Shares ISA.<\/p>\n If you transfer an ISA that you have paid into during the current tax year to a new provider, you must transfer the whole balance. For ISAs from previous years, you can choose how much to transfer. Investing in a wide range of different tax-efficient investments Individual Savings Accounts (ISAs) can be used to hold stocks and shares or cash, or any combination of these, up to the current annual limit. An ISA is a tax-efficient \u2018wrapper\u2019 that can be used to help save you tax.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/posts\/3244"}],"collection":[{"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/comments?post=3244"}],"version-history":[{"count":0,"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/posts\/3244\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/media?parent=3244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/categories?post=3244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hastingsinvestment.com\/news\/wp-json\/wp\/v2\/tags?post=3244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u2022 Unit trusts
\n\u2022 OEICs (Open-Ended Investment Companies)
\n\u2022 Investment trusts
\n\u2022 Exchange traded funds
\n\u2022 Corporate and government bonds
\n\u2022 Individual stocks and shares<\/p>\n
\nYou can contribute a total of \u00a320,000 a year into an ISA in the current 2020\/21 tax year. The whole allowance of \u00a320,000 can be paid into a Stocks & Shares ISA, Innovative Finance ISA or Cash ISA, or a combination of these.<\/p>\n
\nAny increase in the value of the investments in your Stocks & Shares ISA or Innovative Finance ISA is free of Capital Gains Tax, and most income is tax-efficient.<\/p>\n
\nISA rules introduced in April 2015 now permit the surviving partner of a spouse or registered civil partner who died on or after 3 December 2014 to receive an additional ISA allowance equal to the value of the deceased\u2019s ISA savings at the time of death.<\/p>\n
\nShould you wish to switch your current or previous year\u2019s ISA to a different provider\u2019s ISA while simultaneously keeping future tax benefits intact, you have to arrange for a transfer rather than selling and reinvesting.<\/p>\n
\nFor most of the investments you would put into a Stocks & Shares ISA, the value can go down as well as up, and you might get back less than you invested. The level of risk in your Stocks & Shares ISA will depend on the investments you choose to put into it.\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"