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ISA Interest
Boyo
Posts: 2 Newbie
Can you please help? I'm trying to fully understand how the ISA works in relation to investments. I understand that the maximun amount I can invest in a cash ISA in 1 year is £3600. If I invest the total amount at the begining of a tax year, when my interest is caluculated throughout the year, is it only based on the initial £3600, or is it cumulative i.e. the interest calculated on the total amount (£3600 plus each of the previous tax receipts)?
Hope you can clarify
Boyo
Hope you can clarify
Boyo
0
Comments
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It is.
And you can do 3.6 each tax year plus whatever interest you receive from previous years.0
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