Which Isa is right for you? There are now FIVE types - but our quiz makes the choice simple
Daily MailWhether you're saving for the holiday of a lifetime or a retirement that's still decades off, Individual Savings Accounts are an ideal place to build up a nest egg. Recent Isa deposits are up 22 per cent while children's Junior Isas have soared by 40 per cent, according to investment platform Fidelity. But with five types to choose from – Cash Isas, Lifetime Isas, Jisas, Stocks and Shares Isas and Innovative Finance Isas – which one would suit you best? A Stocks and Shares Isa – also known as an investment Isa – is a great way to build long-term wealth that you can keep away from the taxman. Sarah Coles, head of personal finance at Hargreaves Lansdown, says: 'It makes sense to try to ensure all your gains fall within the capital gains tax allowance – which is £3,000 this year – so there's no tax to pay on profits.'
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