Cash ISA
A Cash ISA is a savings account where the interest you earn is tax-free under current UK tax rules.
1 min read Saving More Money
What it means
A Cash ISA is a savings account where the interest you earn is tax-free under current UK tax rules. You can only put a certain amount of money in a cash ISA per year.
Example
You put £8,000 into a Cash ISA and keep all of the interest you earn without paying tax on it.
Why it matters
It can be a tax-efficient place to keep your savings.
You can only pay in up to the annual ISA allowance across your ISAs each tax year.
Can I have more than one Cash ISA?
You can hold multiple ISAs, but contribution rules apply each tax year.