Unit 8: Part 3 Finalissimo

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ISAs are only available to British adults

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ISAs are available only to every adult resident in the UK

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ISAs are available to every adult and child resident in the UK

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Children are allowed to save into ISAS but they can only put money in Cash ISAs

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What are the criteria for ISA eligibility?

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How old should you be to invest in Cash ISAs?

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How old should you be to subscribe to a stocks and shares ISAs?

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ISA= mainly cash investments

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ISAs = only Cash Invesments

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Eligible savers over 16 can save/invest up to £9k a year in an ISA.

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Eligible savers can save/invest up to £9k a year in an ISA on behalf of a child.

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Eligible savers can save/invest up to £20k a year in an ISA.

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ISAs can offer value for money

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ISAs always offer value for money

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Investors can claim a tax allowance of up to £1,000 a year on their savings/investments' profits

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Investors who are basic tax payers can claim a tax break of up to £1,000 a year on their savings/investments' profits

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ISAs are conservative investment vehicles

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Junior ISAs include both Cash and Stocks and Shares products but not Alternative Finance

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The owner of the money invested in a Junior ISA account belong to

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ISAs accounts are transferable

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ISAs allowances are reviewed

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If you sell your main home, you are exempt from Capital Gain Tax

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If you sell you a house you bought just to post a profit, you are capital gain tax exempt

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Capital Gain Tax ranges from 18% to 28% of_____________________

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You only have to pay capital gains tax on gains that e your annual allowance. The tax-free allowance is currently £12,300 per in 2021-2022

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In the UK, you are liable for taxes on __________

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Income Tax includes income from ❌, ❌, income on ❌ and ❌

freelance work

full time work

property income

only rental income

savings

investments only

wages

regular wages

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From the tax point of view, it is more lucrative to rent a room in your own house because of the size of the tax allowance

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From the tax point of view, it is more lucrative to rent a room in your second home house because of the size of the tax allowance

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Dividends are

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Rental paid on a room in your own house (where you live) counts towards

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Rental paid on a room in your own house (where you live) counts towards towards your room rental allowance which is £7500 per financial year

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Rental paid on a room in your own house (where you live) counts towards towards your room rental allowance which is £7200 per financial year

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There is no allowance on dividends earn with your investments. Whatever you make is taxed

economics finance

Unit 8: Part 3 Finalissimo

ISAs are only available to British adults

ISAs are available only to every adult resident in the UK

ISAs are available to every adult and child resident in the UK

Children are allowed to save into ISAS but they can only put money in Cash ISAs

What are the criteria for ISA eligibility?

How old should you be to invest in Cash ISAs?

How old should you be to subscribe to a stocks and shares ISAs?

ISA= mainly cash investments

ISAs = only Cash Invesments

Eligible savers over 16 can save/invest up to £9k a year in an ISA.

Eligible savers can save/invest up to £9k a year in an ISA on behalf of a child.

Eligible savers can save/invest up to £20k a year in an ISA.

ISAs can offer value for money

ISAs always offer value for money

Investors can claim a tax allowance of up to £1,000 a year on their savings/investments' profits

Investors who are basic tax payers can claim a tax break of up to £1,000 a year on their savings/investments' profits

ISAs are conservative investment vehicles

Junior ISAs include both Cash and Stocks and Shares products but not Alternative Finance

The owner of the money invested in a Junior ISA account belong to

ISAs accounts are transferable