The Individual Savings Account (ISA) protects your investment from tax. You can invest up to £11,520 in a tax year in an ISA and that investment will not be liable to personal income tax or capital gains tax. However, your allowance works on a ‘use it or lose it’ basis: any unused allowance from one year can’t be carried forward into the next.
It’s also worth knowing that if you are not happy with the performance of your current ISA provider you can transfer any other ISA you hold to M&G.
Find out more about The M&G ISA.
The Junior Individual Savings Account (Junior ISA) is a tax-efficient way to save on behalf of a child. Up to £3,720 per tax year can be invested on a child’s behalf (so long as they do not already hold a CTF account) by either regular payments or with a lump sum, at any time. What’s more, anyone can gift into a Junior ISA account making it an ideal alternative for Christmas and birthdays.
Like the ISA, Junior ISAs can hold bonds, equities, cash and even property shares giving you even more flexibility over the future of the child’s long-term savings.
Find out more about the The M&G Junior ISA
You may have already used your ISA allowance for the current tax year, but you can still make regular contributions or a lump sum payment to The Savings Plan. The minimum monthly investment is only £10 so the opportunity of investing in M&G’s OEICs/Unit Trusts is available to you, whatever your financial position.
Find out more about The M&G Savings Plan.
You can buy or sell shares in a company but you may prefer to invest in the stock market through unit trusts or Open Ended Investment Companies (OEICs). These are pooled funds of investors’ money managed by specialist professional fund managers who decide how best to invest in order to achieve set objectives. The advantages of investing in this way are that:
Find out more about M&G OEIC funds
Prices may fluctuate and you may not get back your original investment.