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Hi.
i just did a questions in kaplan where it said that NISA Investments were not exempt but NISA Savings are exempt.
would it be possible to explain these in 2/3 lines please….i have read the text but cant seem to understand,
thank u
Are you sure you are not confusing New Individual Savings Accounts (NISA) which are exempt with National Savings Accounts Interest which is taxable?
here is the question:
Joe made the following investments during 14/15
i. 400 in shares in the company he works for
ii. 1000 in a New Individual Savings Account
iii. 800 in a National Savings and Investments Investment Account
iv. 500 purchasing a National Savings and Investment Certwhich of the above will generate income which is exempt from income tax?
a. all of the above
b. i,ii,iv
c. ii,iii,iv
d. i onlyanswer is b.
“Income from NS&I Investment account (interest) is subject to income tax”
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