ISA, is this considred to be a benefit?

[ouartil]

Hi Guys,
Apologies for this silly question but I just wanted to double check that ISA is not considered as a benefit ( you don't pay taxes up to £15k each year). bearing in mind that i am on a Tier1 general visas and do not have access to public fund.

Thank you.

[pied.piper]

I don't think so. There is a definite list of what constitutes as a public fund and ISA is not there. However, let's see if someone with more knowledge has a better answer.

[mr_mar]

ISA is a savings account and all of it is your money that you saved from your own income ?
If yes that means it is not a benefit

[ouartil]

Yes, it is a saving account, but the don't pay taxes for any profit you get out of £15000, and this is every year.

It does not seem to be a benefit, but just wanted to double check.

[askhan]

Hi Mate.

Any benefit you receive which is publicly funded is not allowed. EXCEPT (NHS).

The ISA account is not public funded, so dont worry . .
Thanks
A

[ouartil]

Thank you very much.

[pied.piper]

NHS and Free Basic Education are definitely available to everyone as these are considered basic rights of the residents. There are other benefits, based on NI contribution, which we can also avail.

There is a definite list of what "public funds" are restricted. You can find it here:
https://www.gov.uk/government/publicati ... blic-funds