An Individual Savings Account (ISA) is a “wrapper” for cash and/or investments which confers some valuable tax benefits to UK resident savers and investors.
The key issue is that of inflation and the “real value” of money on deposit. If inflation averages just 2½% per annum, the value of the pound in your pocket reduces by one-quarter every 12-years. Even with interest accumulating, with rates as low as those currently available, particularly after tax, those balances are not keeping pace with inflation.
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An Investment Trust is a limited company whose business is the investment of shareholders’ funds, the shares being traded like those of any other public company.