© CMG London mortgage advisers

 INDIVIDUAL SAVINGS ACCOUNT, ISA

Advantages

* All income and capital growth is free of personal UK income and capital gains taxes. This is except for the 10% tax credit payable on all UK equity dividends.

Disadvantages

* A maximum of £ 7,000 can be invested in an ISA each tax year subject to annual review by the Government. A maximum of £3000 can be invested in a cash ISA.

* The Government intends to review the terms and availability of ISAs in 2009.

* Some lenders may not accept ISAs.

* There is no monitoring of the fund to ensure it will repay the mortgage.

HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

 CONTACT US

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Head Office: Capital Management Group Mortgage Brokers, Times Square - Mellon Financial Centre, 160 Queen Victoria Street, London, EC4V 4BD. UK