ISAs are a very popular way to invest because you do not pay any tax on your investment's income or gains. In 2014 the government renamed them as NISAs (New ISAs) to publicise a significant increase in the ISA limit. Key things to know about ISAs are:
|Tax benefits||There is no tax to pay on income and gains|
|Putting money in||The total ISA allowance for the 2017/18 tax year is £20,000. If you have already put money in a cash ISA this year then this counts towards this limit.|
|Getting money out||The money can be withdrawn at any time, although ISAs are generally used for longer term investment (more than 5 years).|
|Risk and return||We only offer stocks and shares ISA investments. These will probably provide higher returns than cash ISAs in the long term, but there is a risk that you get back less than you put in. Our risk/return explorer can help work out if investing is for you.|
|Minimum investment||The minimum investment is £100 or £50 per month.|
For more details, see Part 2 "Key features of investment ISA" of the Cofunds key information document.
All ISAs held via Smarterly benefit from our free SmarterCare investment risk and performance monitoring service.
SmarterCare's powerful algorithms will check up on the ISA every single day and send you an email if any of its alerts are triggered.
All your investments with Smarterly show up in your account area of our website.
From your account you can do all the standard things you'd expect to be able to do, and a few that you might not, like up-to-date "good case" vs "bad case" projections of what your ISA might be worth in future.