It’s difficult to stomach the notion that money saved into a cash ISA could actually be worth less in the future than it is now. However, with the base rate stuck at an all-time low of 0.5%, it’s a struggle to find a cash ISA today that comes close to matching the inflation rate, which is close to 3%.
Published on 13 Dec 20133 minute read
Written by Lee Dooley
This means that as time passes, your savings could actually be losing value.
Although it is prudent to hold some savings in cash in case of an emergency, a stocks & shares ISA could be an alternative to sticking with cash if you want to make your money work harder. These ISAs hold your money in investments such as funds or individual shares and they offer tax advantages as cash ISAs do.
Try our Stocks and Shares ISA Calculator to estimate the potential Income Tax and Capital Gains Tax savings you can make by investing in an ISA:
Bestinvest was voted Self Select ISA Provider of the Year at the Investors Chronicle and FT Investment Awards 2013. If you choose a stocks and shares ISA from Bestinvest you will be able to:
The Bestinvest ISA gives you a choice of more than 2,000 funds, offered by more than 85 investment providers including a wide range of:
If you don’t want to choose your own investments, our ready-made portfolios give a starter portfolio of funds that we rate highly. They’re a quick way to begin if you don’t want advice and you’re happy to buy online.
Children can also benefit from tax free investing, with an allowance of £3,720. To find out more about the Bestinvest Junior ISA and other investment strategies for children, download our Guide to Investing for Children.
Make your money work harder. Call us on 020 7189 2400 today to find out more about investing in a stocks and shares ISA