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What is an Individual Savings Account (ISA)?

An ISA is a tax-free account that lets you hold cash and/or investments without having to pay tax on any interest, investment income or gains you make on your money.

How much can I save tax-free?

The ISA allowance is £20,000 for the 2020/21 tax year.

How does it work?

You can set up as many separate ISA ‘pots’ as you like within your single Cushon ISA. This means you can create individual pots for different savings goals, invest and save your money across a range of different funds, and at different levels of risk. Access your money whenever you like without any charges. For certain types of cash deposits a notice period applies. If this is the case you’ll be made aware upfront.

What are the benefits of a Cushon ISA?

Behind the scenes, we’ll set up your account as a Stocks and Shares ISA even if you choose to only hold cash within it. You can choose to invest some or all of your money, rather than having to switch accounts to invest or set up a separate Cash ISA, making it easier for you to control your savings.

Anything else I need to know?

To open a Cushon ISA you must be aged 18 or over, be a UK resident and have a National Insurance Number. This is a flexible ISA which means you can take money out of your account and put it back in the same tax year without it affecting your tax-free allowance.