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Everything you need to know about ISAs for 2015

 article about Everything you need to know about ISAs for 2015
If you are serious about taking good care of your savings, an ISA is the best way to do it. An ISA (Individual Savings Account) is offered by the government and allows you to maximise your contribution, as it is completely tax free. There is no need to let the tax man know the details of your ISA and you can look forward to a good return on your investment. There are two options when it comes to ISA's; the cash ISA or the stocks and shares. The stocks and shares is riskier than the cash ISA. There are several changes to look out for with ISA's in 2015.

Simpler Savings


The ISA has become a simpler product since 2014. The simpler ISA is more flexible than previous years and has become increasingly attractive to savers. You now have the option to transfer savings between both stocks and cash, which is a change from previous limitations. It is easy to gain access to your ISA, which is not the case with many other savings accounts.

ISA allowance


The ISA allowance has regularly increased and from 2014, the limit stands at 15,000 for the tax year. This means you can get more back from your investment. The year runs from 6th April to 5th April the following year. In order to maximise your investment, it is a good idea to invest at the start of the tax year, as you'll get more back this way. You can find out more about stocks and shares ISAs by visiting Nutmeg. ISA's are a good way to save and with the changes for 2015, it is an even favourable choice than it has been in previous years. The ISA allowance continues to increase over time, so it is well worth opening an account as soon as possible. There is plenty of information available to enable you to work out if it is a good choice for your own situation. It is a good account for all ages and with the Junior ISA, savers can start from a young age.

Junior ISA


The Junior Individual Savings Account will also change in 2015. The ISA allowance will increase from its current value of 4,000 to 4,080. It is well worth investing at a young age with an ISA, as it is tax free and can offer some decent returns on your investments. This account is available for those aged under 18 years of age. If you are thinking of saving and are around this age band, this is a good first choice for your savings. At the end of the tax year, you could get a decent return, especially if you are saving at the maximum level.

Bonds


There has also been an enhancement in premium bonds, with increasing saving limits in 2015. In addition, there is the introduction of a new pensioner bond for those aged over 65 years.


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