An ISA is an Individual Savings Account which is a tax-efficient way of investing. That means any returns from investing are free from UK income or capital gains tax. The underlying funds you invest in through your ISA may have paid tax, but you can’t reclaim this.
In the tax year, 2013/14, you can invest up to £11,520 in an ISA. You could invest all your allowance into a stocks and shares ISA. Alternatively, you can put up to £5,760 in a cash ISA and invest the rest in a stocks and shares ISA.
With an ISA from Aviva, you can choose from a range of funds. Whether you are looking for income, growth, a mixture of both or looking for funds designed to meet your attitude to risk we could have a fund appropriate for you.
With an Aviva Investors Investment ISA the minimum amount you can invest is £500 as a lump sum or £50 a month. You should consider this as a long-term investment and aim to leave your money in the ISA for at least five years.