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Isas

1 reply

Headfart · 13/03/2025 20:32

I don’t have an isa I have savings in a ssa . if I have an isa and open it before end of this tax year can I add 20k to it in the next tax year and will I then have tax free earning on the 40 or only on the first 1000 of interest earned in which case I may as well not bother and leave in ssa and just sick up the tax bill on interest earned over 1000?

OP posts:
Wolfpa · 13/03/2025 20:46

You will have tax free interest on the 40k in the ISA as well as your personal savings allowance.

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