ISAs are a scheme of tax-free investment introduced by the Government on 6 April 1999. Savers have been be able to put £20,000 per tax year into a Cash ISA from April 2018 under the governments ISA (NISA) scheme.
Available ISAs
Castle & Crystal only offers a Cash ISA.
More information on ISAs in general is available on www.hmrc.gov.uk/ISA
Tax relief
All interest paid by Castle & Crystal on an ISA investment is payable without deduction
of income tax at source.
Subject to the terms and conditions of the Castle & Crystal ISA you may make withdrawals from or close an ISA without the loss of tax exemption (favourable tax terms of this investment may not be maintained).
Ways to pay into your ISA
You can pay into your ISA by cash, cheque, standing order or payroll deduction. You can also have benefits such as child benefit or working tax credits paid directly into your ISA account.
Interest payments
We will notify you in writing 30 days before any changes to the interest rate to be applied to your account. Interest will be paid on the savings account based on the notified interest rate, applied on the daily balance and credited to the Cash ISA account on or after the 6th of April each year.
ISA statements
An annual statement will be issued accordingly each year. Interim statements are available on request.
Subscription limits
The maximum you can pay into an ISA in any tax year is prescribed by HM Revenue & Customs (HMRC). To find out what the annual allowances are and any other permissible subscriptions, please visit us in branch or visit our website www.castleandcrystal.co.uk or HMRC’s website www.hmrc.gov.uk
You can save up to a maximum of £20,000 in 2023/24, and this can be in a cash ISA, a stocks and shares
ISA, an innovative finance ISA, a Help to Buy ISA or a mixture.
Subscriptions can be made by a lump sum investment or regular savings, but interest paid may vary.
Withdrawals
Withdrawals can be made without penalty. Withdrawals from an ISA have no effect on the subscription limit.