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An ISA is a financial product available to residents in the United Kingdom. It is designed for the purpose of investment and savings with a favourable tax status.

From the Wikipedia article on Individual Savings Account:

An ISA is a financial product available to residents in the United Kingdom. It is designed for the purpose of investment and savings with a favourable tax status. Money is contributed from after tax income and not subjected to income tax or capital gains tax within a holding or upon withdrawal. Cash and a broad range of investments can be held and there is no restriction on when or how much money can be withdrawn.

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