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An individual savings account ( ISA; / ˈaɪsə /) is a class of retail investment arrangement available to residents of the United Kingdom. First introduced in 1999, the accounts have favourable tax status. Payments into the account are made from after-tax income, then the account is exempt from income tax and capital gains tax on the ...
Website. uk .virginmoney .com. Virgin Money is a banking and financial services brand operating in the United Kingdom as a trading name of Clydesdale Bank plc . The Virgin Money brand was founded by Richard Branson in March 1995. It was originally known as Virgin Direct, and pioneered index tracking by launching a value personal equity plan ...
The company pioneered the offset mortgage in the UK and; was conceived as a joint venture between Virgin Direct (Virgin's financial services company) and The Royal Bank of Scotland in 1997. Initially, the company was known as the 'Virgin One account' and promoted to Virgin Direct's 200,000 strong UK customer base.
An income share agreement (or ISA) is a financial structure in which an individual or organization provides something of value (often a fixed amount of money) to a recipient who, in exchange, agrees to pay back a percentage of their income for a fixed number of years. ISAs have gained prominence as an alternative to the traditional student loan ...
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Inflation concerns in the UK led the Bank of England to raise interest rates in late 2006 and 2007. This caused sterling to appreciate against other major currencies and, with the US dollar depreciating at the same time, sterling hit a 15-year high against the US dollar on 18 April 2007, with £1 reaching US$2 the day before, for the first time ...
In 2003 it acquired Britannic Money. In 2014, the Paragon Group of Companies PLC launched Paragon Bank which offers a range of internet-based savings accounts and a range of lending products. In 2017, it changed its name to Paragon Banking Group PLC, as part of becoming a "fully integrated banking business".
Virgin Money UK plc, previously known as CYBG plc, is a holding company that owns Clydesdale Bank plc, which in turn trades as Clydesdale Bank, Yorkshire Bank and Virgin Money in the United Kingdom. It was formed as CYBG plc by National Australia Bank (NAB) in February 2016, in advance of the divestment of its UK business through a stock market ...