An ISA is a type of savings account which acts as a shelter from the tax man. Any cash, stock or assets which are placed in an ISA will gain interest that can’t be classed as taxable income.
A cash ISA alone can prove quite a good money spinner if they yearly limit is reached and reinvested in a competitive account at the beginning of each tax year.
This infographic was created by MoneySupermarket.com to promote the Cash ISA tax free savings account.
