Individual Savings Account

Business, Legal & Accounting Glossary

Definition: Individual Savings Account


Individual Savings Account

Quick Summary of Individual Savings Account


Savings account offered in the United Kingdom, which is similar to an IRA. Residents are permitted to deposit 7,000 Euros each year into the account tax free. ISAs are available in two main forms: maxi-ISAs and min-ISAs. Maxi-ISAs are geared to those individuals that mainly want to invest in stocks. The funds are managed by an investment bank or fund group. Mini-ISAs are for people that want to save a bulk of the money in the account to allow it to accrue interest. ISAs were introduced in 1999 and replaced the Personal Equity Plans and Tax-Exempt Special Savings Accounts.




Synonyms For Individual Savings Account


ISA


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/individual-savings-account/
Modern Language Association (MLA):
Individual Savings Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
July 24, 2024 https://payrollheaven.com/define/individual-savings-account/.
Chicago Manual of Style (CMS):
Individual Savings Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/individual-savings-account/ (accessed: July 24, 2024).
American Psychological Association (APA):
Individual Savings Account. PayrollHeaven.com. Retrieved July 24, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/individual-savings-account/

Definition Sources


Definitions for Individual Savings Account are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.