The Post Office warn that the tax advantages of ISAs depend on individual circumstances and the tax perks themselves could change in the future.
Currently, the government will allow people to save up to £20,000 within ISAs in a tax year.
ISAs will not close when the tax year finishes and they holder will be able to keep their savings on a tax-free basis for as long as the money is held within the ISA.
Money held in any type of ISA will not have any tax levied on interest generated on cash or income or capital gains from investments.
Published at Fri, 12 Jun 2020 07:59:00 +0000