ISAs represent a tax-efficient container into which to place cash savings
and investments in equities, bonds, collectives (see below) and insurance
policies.
The cash portion, currently up to £3600 per year, is usually a deposit with a bank or building society and because it is an ISA, interest and growth is not taxable.

| Western Welsh Financial Services is a trading name of Western Welsh Mortgage Services Ltd., which is authorised and regulated by the Financial Services Authority. Western Welsh Mortgage Services Ltd is entered on the FSA register (www.fsa.gov.uk/register/) under reference 313805 |
| The FSA does not regulate all forms of the products or services we provide. |