When Isabelle and Scarlett were born we knew we wanted to open up a savings account to invest in their future. Ali and I were looking at the best way we could do this and after doing a little research we ended up setting them up an ISA account. It is the best thing we did. At Christmas time and on their birthdays they receive some money from family and friends and it’s nice to know the money is safe in an account.
You may or may not be aware the chancellor in his recent budget speech has announced as from the 1st of July, ISAs will be reformed into a much simpler product, The New ISA (New individual savings account.)
As we have already got existing ISAs we don’t need to worry about making any changes as they will automatically be converted to The New ISA. So we will see Isabelle and Scarlett’s ISAs benefit from the changes.
So what are the differences?
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