What is an ISA?

An ISA (or Individual Savings Account) is a popular, tax advantaged way of saving.

Whether you're aiming for something specific - like a special holiday or a deposit for a property - or just interested in putting something away for your future, an ISA is the foundation for many savers.

Four different types of ISA

There are four types of ISA. Cash ISA, Innovative Finance ISA, Lifetime ISA and Stocks & Shares ISA. Our ISA is the Stocks & Shares type, which means you invest your money hoping to benefit from investment growth over the longer term.

There are agreed limits set by the Government regarding how much you can invest into your ISA(s). For the 2018/19 tax year, the limit is $20,000 in total which can be invested into your ISA(s), which can be split between a Stocks & Shares ISA, a Cash ISA, an Innovative Finance ISA and a Lifetime ISA (if you are eligible). You can only put money into one Stocks & Shares ISA, one Innovative Finance ISA, one Cash ISA and one Lifetime ISA in a tax year.

6 April

The start of a new tax year. You can take out an ISA at any time, but to make the most of the tax advantages it makes sense to start putting money in as early in the tax year as you can.

Important information

Please remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested.

All investments carry an element of risk which may differ significantly. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice.

Remember you can only contribute to one Stocks & Shares ISA, one Cash ISA, one Lifetime ISA and one Innovative Finance ISA each year, regardless of provider. If you have contributed to a Cash ISA and/ or Innovative Finance ISA this will reduce the amount you can contribute to a Stocks & Shares ISA.

Laws and tax rules may change in the future without notice. The information here is our understanding in April 2018. This information takes no account of your personal circumstances which may have an impact on tax treatment.

Who can apply?

If you are 18 or over and resident in the UK you can apply for a Stocks & Shares ISA. You must hold it in your own name and you can only pay in to one Stocks & Shares ISA each tax year.

We don’t accept applications by or on behalf of any US Persons.

Know your limits

You can save up to $20,000 into an ISA in the 2018/19 tax year. This can be split between a Cash ISA, Innovative Finance ISA, a Lifetime ISA and a Stocks & Shares ISA if you want.

For more information on our Stocks & Shares ISA, Visit our FAQ page.

Find out more

All the tax advantages and flexibility you would expect

Our award winning Customer Service Team, online platform and flexible product features mean the Best Sun Credit Union ISA Account delivers everything you would expect. And more.

Tax advantages

No Income tax on your ISA income
No tax on capital gains in your ISA
Hassle free. No need to tell HMRC about income and capital gains from your ISA on your tax return.