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Individual Savings Accounts: how do they work?



Are you planning to open a new savings account? If you live in the UK you can opt for an ISA, which today represents a new way to save or invest money. Before explaining the characteristics of ISAs, however, it is important to specify that all investments can involve risks and economic losses. In fact, when you invest, your every move is subject to constant market fluctuations and the final outcome of your investments is always unpredictable. If you are starting this new path to give your money a chance to grow, always keep in mind that you may find yourself with less than you expected. Anyway, ISAs are Individual Savings Accounts specifically designed to allow the holder to invest and save their money without ever paying taxes. In fact, all types of ISAs work in a tax-efficient way. Depending on the type you decide to open, you can simply set aside your savings or invest them in a wide variety of fields according to your needs and risk profile. An ISA can be opened by any UK citizen over the age of 16. Today you can even open one dedicated to the future of minors, who will be able to access their money once they become of age. Can you have more than one isa? Today, if you both want to save and invest your money you can open as many types of ISAs as you want. In fact, the British Government gives its citizens the chance to open a Stocks and Shares ISA, a Junior ISA, a Cash ISA, and more at the same time, but you open only one type of each ISA variant per tax year. Now let’s have a look at the different types of accounts available and at their characteristics.

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What type of ISA should you choose?

Today you can choose from many different types of ISAs according to your preferences. One of the most widespread is called Cash ISA, which today represents the most similar choice to a normal savings account. In this case, however, you will not have to pay taxes on your savings. On the other hand, the Stocks and Shares ISA resembles an investment account that works in a tax-efficient way. If you’re planning to open an Individual Savings Account to put money aside for your future, you could choose a Lifetime ISA, since it has been created to help you save money for life-related purchases, such as a new house. If you opt for Innovative Finance ISA, you’ll have the chance to invest in a peer-to-peer lending with the goal to get interest back. Lastly, as mentioned above, you can open a Junior ISA to save money for your children. In this case, the annual allowance is up to £9,000 per year and £25 per month. Other family members and friends can give their contribution as well.

What is the annual allowance?

Speaking of ISAs, you have surely heard of the annual ISA allowance. What is it? It is indeed a value that refers to the maximum amount that you can deposit into your fund in a year, and that applies to all types of ISAs currently available to British citizens. If for a Junior ISA it amounts to £9,000 per year, all other types have an allowance of £ 20,000 per year. If you’re looking for an investment account that comes with no restriction on the number of funds you can deposit in a year you may consider a GIA (General Investment Accounts), which by the way comes with no tax and contributions benefits.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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