What is an ISA?
ISAs are tax efficient savings accounts that allow you to invest in one or more of the Investment portfolios available through our online investment service.
They are available for new investments by lump sums or regular monthly payments within limits set by the Government.
There are three types of ISA: Stocks & Shares ISAs, Cash ISAs and Innovative Finance ISA’s.
You are only able to invest in a Stocks & Shares ISA through our online investment service.
You can invest the full yearly ISA allowance of £15,240 for the tax year 2016/17 into:
- A Stocks & Shares ISA; or
- A Cash ISA; or
- An Innovative Finance ISA; or
- A Stocks & Shares ISA, a Cash ISA and an Innovative Finance ISA investing any amounts you like up to a total of £15,240.
We currently only offer a Stocks & Shares ISA
What is a General Investment Account (GIA)?
Investments can be held outside your ISA in our GIA product.
Unlike the ISA there are no limits to the amount you can hold in a GIA.
Unlike an ISA, growth within a GIA maybe subject to tax and you might be liable for Capital Gains Tax on encashment.