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What is an ISA/IFISA?

ISA stands for ‘Individual Savings Account’. An ISA is a tax-wrapper that allows UK taxpayers to save tax-free into cash savings or investment accounts. ISA accounts are typically offered by banks, building societies, insurers and asset managers.

There are five primary types of ISA (cash, stocks & shares, lifetime, help-to-buy and innovative finance) made available by HMRC, each designed to provide a different method of saving, but all under the same overall tax-free proposition.

You may add up to £20,000 to an existing or new ISA each tax year, with no limit on the transfer of funds between different ISAs from previous years.    

Tifosy is a registered ISA Manager, offering an Innovative Finance ISA (IFISA). Introduced in 2016, IFISAs enable debt-based securities issued through an online platform (such as bonds issued through Tifosy) to be held within an IFISA, with any returns from that investment exempt from tax while contained within the ISA “wrapper”. It is not possible to invest in equity offers through an IFISA.

Additional information about ISAs can be found on our IFISA FAQ page.

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