The magnificent seven: The different types of ISAs explained

Countdown SevenIndividual Savings Accounts were introduced in the late 1990s and replaced PEPs (Personal Equity Plans) and TESSAs (Tax-Exempt Special Savings Account). Since then, they have become by far the most popular way of savings and investing, but have also expanded in number; there are now seven different types of ISA. You would be forgiven if this bewildering array of ISAs leaves you confused. So we thought a quick, at a glance guide, to the seven different types of ISA would be useful. #1: The original ISA This option allows anyone over the age ...

Investments: Alliance Trust increase charges

Alliance Trust, a favourite of DIY investors, have increased its charges on their Stocks & Shares ISA (Individual Savings Account) in a move that many financial experts believe is a direct result of new FSA (Financial Services Authority) rules to be bought in at the start of 2013. Retail Distribution Review The Retail Distribution Review, or RDR for short, will come into effect from 1st January 2013 and will stop platforms, such as Alliance Trust, taking payments from investment funds. At present many investment funds pay part of the Annual Management Charge, which is paid by investors, back to the platform. The ...