WiseAlpha’s IF ISA was introduced to beat the paltry investment returns currently available in the market. A major benefit of the IF ISA is that it is a tax-free wrapper that allows investment of up to £20,000 for the year 2019/2020. Please note that tax treatment depends on the individual circumstances of each investor and may be subject to change in future.
It is possible to split the £20,000 allowance across the different types of ISAs (the Lifetime ISA is subject to restrictions). You cannot open more than one new ISA in each class in each tax year. For example, only ONE cash ISA and ONE Stocks and Shares ISA, ONE Lifetime ISA and ONE Innovative Finance ISA can be opened in each tax year.