Key Features of ISAs
Puts you in control
You can determine what you invest in and manage how you invest your assets.
Annual allowance
The maximum amount being £20,000 you can contribute into your ISA in a tax year 2020. The end of the UK tax year 5th April is the deadline to use your annual allowance for that tax year. Any remaining allowance cannot be carried over to the following tax year.
Tax benefits within the wrapper
ISA accounts are free from both capital gains tax (CGT) and income tax. Any interest or capital withdrawn from your ISA is also free from tax.
Capital withdrawal
You have the flexibility to withdraw capital at any time from your ISA. However, any new deposits into your ISA will come out of your current annual allowance.
Inheritance tax benefits
ISA funds can be passed onto your spouse free from inheritance tax.
24-hour access
Unrestricted view only access to your account 24 hours 7 days a week.
Fast execution
The multi-award winning online platform provides live prices and you can open and close positions at the click of a mouse.
Bed and ISA
This is a method of transferring shares from your standard stockbroking account into an ISA to protect your profits from capital gains tax. Because HMRC rules prohibit the transfer of shares directly into an ISA, shares must first be sold, the cash transferred into your ISA, and the stock re-purchased, which could itself incur tax liabilities.
Cash ISAs & Equity ISAs
A cash ISA is essentially a tax-free savings account whilst an Equity ISA allows you to invest in shares, funds and bonds.