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Puzzled with industry jargon? Browse our glossary section for commonly-used terms and start to understand what the complicated vocabulary used in the world of personal finance means to your money matters.

Individual Savings Account (ISA)

At the start of the 1999/2000 tax year the Individual Savings Account (ISA) was introduced and replaced the PEP and the TESSA. Two main types of ISAs were introduced to replace PEPs and TESSAs: the maxi ISA and the mini ISA. You can save cash in an ISA and any interest you earn will be tax-free. You can also invest in shares or funds in an ISA where you will not pay tax on any capital growth or dividends that you receive.
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