Will I benefit from a tax-efficient account?
It is important to understand that tax treatment depends on the specific circumstances of each individual and may be subject to change in the future. So, for example, while you can currently subscribe and shelter up to £20,000 in an ISA, there is no guarantee that ISAs will retain their potentially favourable tax status in the future.
To decide if a tax-efficient account is right for your circumstances you need to understand your personal tax situation and, therefore, any potential tax savings you could make. You should bear in mind the dividend allowance of £2,000 and also the personal savings allowance of £1,000 for basic rate taxpayers, and £500 for higher rate earners. You should also be aware of account fees to ensure that any potential tax benefits are not outweighed by any fees you will have to pay.