ISA jargon buster

Crystal clear definitions for ISA related terms

An additional ISA allowance that is given to a husband, wife or civil partner when their spouse or partner dies, so the tax-efficient status of an ISA isn’t lost on death. You can find out more about ISA allowances in our Stocks and Shares ISA section.

Set up for children born between September 2002 and 3 January 2011 to encourage saving for young people. They were replaced by the Junior ISA in 2011. You can transfer existing Child Trust Funds into Junior ISAs.

See ISA.

Find out more about Bestinvest's Stocks & Shares ISA.

An ISA is an account for either a cash savings (known as a cash ISA) or investments (known as either an investment ISA or a stocks and shares ISA). ISAs are different to other accounts because they are free from Income Tax and Capital Gains Tax. Each tax year the Government gives adults an allowance that can be invested in an ISA. The current ISA allowance is £20,000.

Junior ISAs are also available for children.

Find out more about our Stocks & Shares ISA.

Also known as a JISA. Allows you to save for a child’s future tax-efficiently. It works in mostly the same way as an adult ISA, with the Government setting an annual limit of how much can be invested. The Junior ISA allowance is currently £9,000.

Find out more about the Bestinvest Junior ISA.

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