Individual Savings Accounts (ISAs) were designed by the Government and were introduced in April 1999. All income and gains from ISA savings are exempt from UK income tax and capital gains tax in the hands of the saver.
Further details on how ISAs work can be found in the ISA Factsheet from the BSA (Building Society Association).
To open a Hinckley & Rugby Cash ISA account you will need a minimum of £500. The maximum you can invest in a tax year is £15,240 (tax year 2016-2017).