Making the most of ISAs

Individual Savings Accounts, universally known as ISAs, began life as relatively simple savings plans in but have become ever more complex. While there have been calls to make the regime simpler and more accessible, in recent years the government has shown little inclination to reform ISAs. The government’s website says there are only four categories of ISA – cash ISAs, stocks and shares ISAs, innovative finance ISAs, and Lifetime ISAs – but variants exist for specific investment needs. Our guide explains how the main variants work, and why you might choose to use them.