If you're a UK small business person, then you should get very smart about managing your money. This does not only apply to your business, but it also applies to your own personal finances. In many cases, particularly for small business sole proprietorships, one's individual income is directly tied to one's business income. Saving money is a very important aspect of personal finance and small business finance. Fortunately, in the United Kingdom, there is the option to use an ISA, which is an individual savings account that is tax efficient. This program was introduced in 1999 by the UK government, and there are two kinds of ISAs, namely the Trading Individual Savings Account and the Cash ISA. The Trading ISA is also known as a Stocks and Shares ISA. The largest advantage of a trading ISA is that there is no capital gains tax. Therefore, all of the gains that are obtained from stocks and shares in the ISA go directly to the investor.
Jul 21 2011
Photo source Iman Mosaad