单词 | Individual Savings Account |
释义 | Individual Savings Account = ISA A savings portfolio for small investors introduced in the UK in 1999. It replaced personal equity plans (PEPs) and Tax Exempt Special Savings Accounts (TESSAs); ISAs entitle individuals to save up to £7000 per year free of tax. The savings may be in the form of cash, shares, or life-assurance policies. ISAs are available in two main forms: maxi-ISAs, which must include shares, either exclusively or together with cash or assurance policies (or both), and the whole package must be supplied by one provider; and mini-ISAs, in which each component can be supplied by different providers, the maximum holding of shares being £3000, of cash £3000, and of assurance policies £1000. Savers can invest in either one maxi-ISA or up to three mini-ISAs in one year but not both. ISAs can be cashed in at any time without loss of the tax relief which includes exemption from personal income tax and capital gains tax. See also: |
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