The fund allows you to start saving directly into the residential property market without the hassle and cost of a mortgage, and it may be held in a tax-efficient ISA.

Invest for your retirement, your family’s future or as a way to build up a deposit.

The Facts

• An Individual Savings Account (ISA) allows you to invest tax free
• The ISA allowance is a generous £20,000 per tax year
• The fund is available from online platforms and financial advisers
• You do not pay tax on any income or capital gains from investments in an ISA
• If you complete a tax return, you do not need to declare any ISA interest, income or capital gains on it

So an ISA is a tax-efficient way for you to start saving up for your retirement, for a deposit on a home, or for your family’s future. The tax benefit in any ISA is dependent on an individual’s circumstances, and legislation may change from time to time.