HAVE you opened a cash ISA during the current tax year? If you haven't, you've got no time to lose – it's well worth comparing cash ISAs to find out what's out there.
Why? Well, the tax advantages these types of accounts boast mean they're a really savvy way to grow your money – why not find out more about the best ISA rates for you on the Halifax website today?
Of course, it's important to understand exactly what you're comparing – which is why keeping up to date with the latest changes and developments with the ISA rules is so essential. During the current tax year (2011/12), you can save up to £5,340 in a cash ISA. This amount is an increase on last year's limit and could be subject to change during the coming tax years. You could choose to put in the whole amount in one go, or you could opt to split it into monthly amounts of up to £445 – it depends on the type of account you go for and the level of access it gives you.
Unlike regular savings accounts, where you'll pay tax on your interest based on your income tax band, there's no tax to pay whatsoever on any interest you earn with a cash ISA. However, you need to be aware that the favourable tax advantages of ISAs depend on your personal circumstances, which like tax rules can change in the future. You also need to be aged 16 years old or over and a UK resident to qualify for the account.
When it comes to choosing the cash ISA that's right for you, we make it really straightforward to compare your options with Halifax. Visit our website to find out all you need to know about our range of products – there's also the option to apply online if you like what you see. If you'd like to manage your money on the web, the ISA Saver Online includes a 12 month fixed bonus and allows you to make unlimited withdrawals. Plus, you can open it with as little as £1.
Already got a cash ISA and want to switch to Halifax? It really couldn't be simpler as you're covered by Halifax's ISA Promise, which is our commitment to our customers to help them make the most of their savings. Why not get in touch with Halifax, the people who give you extra, today?
