An ISA is not an investment, it is really a tax allowance that can be used to shelter other investments from tax.
The industry of course doesn't tend to 'sell' ISAs on this basis but that is the reality, and like any tax allowance, if you don't use it before the end of the tax year then you lose it.
Every adult in the UK currently has an ISA allowance of £15,240 to use by 5 April 2016.
To 'use' your ISA allowance all you have to do is to open an ISA. Subject to any charges you may incur, this is then yours forever and can be used by you or your financial adviser to move any eligible investments into to protect them from tax.
Using ISAs to shelter your investments is a mainstay of financial planning, so make sure you use your 2015/16 ISA allowance to keep this planning tool in your kit bag for your future.
This time last year, the FTSE 100 was nudging ever closer to its all-time high of 7,103. For the first time to date, the UK’s largest companies managed to stay around 7,000 for about a month. Then it all started to go pear-shaped and – roll on 12 months – the FTSE 100 is down just over 15 per cent from its peak, at 5,837. Good news is thin on the ground and market volatility is likely to continue throughout 2016.That makes this Isa season a bit of a hard sell to many clients.