The Ultimate Guide to UK Savings Accounts Part 1| Cash, Stock & Shares, Lifetime, Help to Buy and Innovative Finance ISAs explained
📽 This video is Part 1 of the Ultimate Guide to UK Savings Accounts series. This guide aims to increase your understanding of the UK savings accounts available to you and illustrate the advantages and disadvantages, so you can decide which account(s) are best suited to your needs.
In this video, you will learn about the ISA, a tax free savings account. We will cover 5 different ISAs: Cash ISA, Stocks & Shares ISA, Lifetime ISA (LISA), Help to Buy ISA and Innovative Finance ISA.
By the end of this video, for each ISA, you will understand how the accounts work, what are the tax implications, how your money is protected and the pros and cons.
This video also explains the following 2020/2021 tax year allowances:
Personal Savings Allowance, Dividends Allowance and Annual Exempt Amount.
⌚️ TIMESTAMPS
0:00 Intro
0:13 Savings Accounts covered in Series
0:35 ISA Overview
3:08 2020/21 Annual Allowances –
4:23 Cash ISA
5:45 Stocks and Shares ISA
6:30 Example Savings - Capital Gains Tax
9:02 Lifetime ISA (LISA)
11:51 Help to Buy ISA
13:56 Innovative Finance ISA
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