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UK ISA Accounts Explained (2024)
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The main reason I do admire you Sasha because you are very consistent with your content 👏
This is one of my favorite video
Thanks Tamas! Really flattering! Got an interesting similar style video coming on Monday about credit cards.
These kinds of videos tend to do pretty badly when I first release them as most of my subscribers seem to find them dull but then over time some of them do really well :)
BEST VIDEO ON TH-cam. I HAVE WATCHED OVER 5 HOURS WORTH OF ISA INFORMATION VIDEOS!!!!
Glad you found it useful!
defenitely one of the clearest videos on ISA's - have been looking for UK based investment content. Thank you mate.
Thank you! :)
I would like to thank you for your work as this was exactly what i was looking for as a person who knew nothing about ISA and need infomartion starting from entry level this is perfect.
👍
A super informative explanation of ISAs and with just the right amount of detail on each. Thanks for the info 👍
Thank you Andrew! Really appreciate it!
If you want to give ISA accounts a go, I use Trading 212 for my own personal ISA.
If you sign up for their completely free account to check it out and make the minimum deposit of at least £1, you will get a free share worth up to £100.
www.trading212.com/promocodes/SASHA
Is trading 212 ISA flexible?
@@user-fo1dk7hw4j Nope. Think all/most Stocks and Shares ISAs are not but not 100% sure.
@@SashaYanshin Thanks for the reply. New Subscriber here 😁
@@SashaYanshin I have the ISA account and recently recieved a dividend from US stock but it seems they didnt take 15% witholding tax? It says “0” withhold tax ?? Is that normal for ISA account or do i need to declare that small dividend ?? Thanks
@@angelkolarov1375 The withholding tax will be removed way before you receive it - it won't normally show up on any statements. You don't have to declare anything anywhere as it's inside your ISA. You can check this easily by looking at what the declared dividend per share by the company was, multiplying by your number of shares and converting into GBP. I am betting there will be a 15% difference between that calculation and what you received.
Thank you so much. Very useful information. I’m from Ukraine and thinking of investing to ISA, so when I come back home soon, I can feel more confident.
This is my reference for ISA. Thanks Sasha for this video.
Glad it’s useful!!
Amazing!!!! You explain things so well. I wish we were taught this in school.
Thank you!
@@SashaYanshin but just seen a video title where you say not to get one perhaps. Ha ha. More watching of your videos yet before I decide lol. I guess it depends and the other video will say other options out there. I really like my Freetrade app so it's appealing though and 212 still closed for entrants
@@matchedbettingfaqs7727 Watch that video - a S&S ISA is probably the best option for most BUT it is not necessarily an automatic choice if you only make very small initial deposits. 👍
@@SashaYanshin cool thanks. Really looks your videos, no waffle, just helpful
Very well thought out and put together video, definitely helped, thank you!
You've got a great channel Sasha, i really like the transparency!
I was wondering if you have anything coming up that goes more in depth on Lifetime ISA's? I can't seem to find any good info particularly about the Stocks & Shares Lifetime ISA's and providers, mixing with existing Stocks & Shares ISA, etc....
Lemme add it to the list! :)
It was very useful, thanks!
Thanks for providing such helpful knowledge. Appreciated.
Glad it’s useful!
thank you so much for explaining an Isa junior account I want to open one very soon thank you
I have my Investment ISA outside of Trading 212 and just have an investment account with Trading 212. It's great that they offer an isa though. Trading 212 is so user friendly. Thanks for the comprehensive content!
I have a feeling I'm going to have every investment account that exists just to try them all out :)
Thank you for this video! It’s very informative 😊
I have a question - when you say that you can put a maximum of £20,000 per year into the ISA account, does it mean that each year, you can put £20,000 or does it mean that you can only have a maximum of £20,000 in the ISA account at one time?
you can continue to contribute 20,000 every year, and there is no limit to how large this total can get over time
Thanks, does this mean you don’t pay tax on the money saved in previous ISA’s?
great vid, clear and excellent
👍
Earned a new sub today! Dropping gems
Thank you so much!
Thank you very much! Really useful video
Thank you so much for explaining this
really appreciate this video, thank you! :)
Cheers Max - glad it was useful!
As usual a super helpful video. One question, if I was to leave the UK , what happen with whatever money I had in the ISA??? any advise on that?
Hi Sasha, Thanks for providing great lesson for me to know about ISA accounts. What would be the order of savings as beginner. After having 4 months cash for emergency, I understand this is the order of money should be saved 1. LISA 2. SIPP 3. S&S ISA 4. JISA 5. Innovative ISA. Is this right or your preferred order of suggestion is different.
There’s no real order to it - the different accounts are really different and serve different purposes.
I don’t keep 4 months in cash but everyone has their own strategy.
For me personally, the LISA doesn’t make sense as I already own a home, I manage my pension separately and I use my entire ISA allowance for Stocks and Shares but everyone needs to decide what the right thing for them is.
Very informative video! Thank you.
excellent video. thank you.
Thanks!!
Great video. Thank you.
Great stuff!! Really informative content.
Loved this, thank you
Awesome - glad it was useful!
Good info, thanks 👍
Thank you!
Thanks for the card tapping tip. I've been tapping the chip to the sensor for decades, whilst wondering why some of my cards were so inconsistent.
Haha. That tip was definitely not on this video, but thanks! :D
Nice one. This helped 👍
Excellent breakdown thank you
Thanks Kevin! :))
Love your videos ❤❤❤❤
Thanks a lot!
Great video! I have a question here for you. Shouldnt we just invest in employer pension thus saving at least 12% NI & 20% INCOME TAX?
Thanks for such an informative video. I discovered your channel recently as I am interested in building an investment portfolio for myself. In regard to the Cash ISA is there any benefits investing your emergency fund into it.
That is really a decision you need to make yourself. I actually have an interesting video on this very topic: th-cam.com/video/P-zd9QzfVSg/w-d-xo.html
Can you open and invest in a cash isa and a trading isa in the same tax year?
Im currently 19 and i think i wamt to start saving my mkney wisly would u say lisa and stock share isa is the way to go as i dont have a house also if i deposit less than 4k in lisa do i still get a bonus
The worst thing l could ever do is to create Junior ISA 🙈 especially with the great reset coming, bye bye saving 😩
Let's say I put £100,000 into a Cash ISA paying 5% fixed for three years, can I top up £20,000 per year over the fixed period?
Assuming that you have put 20K into HSBC's cash isa in FY X. Then in the next FY (X+1) , you open a cash ISA with Lloyds and you transfer 10K from HSBC to lloyds and then you top up lloyds with an additional 20K. So in FY X+1, you have 30k in Lloyds cash isa + 10k in HSBC cash isa. Are you allowed to accrue tax free interest on both of them at the same period of time?
What's a good account to open and Do you have to open a isa to do stocks and shares with your bank! to get capital gains tax ,🤔 Good luck god bless all 👍☘️🙏
The way to avoid having to pay Capital Gains in the future in the UK is to open an ISA Account. I actually have a whole video about the best investing apps in the UK here: th-cam.com/video/C004H1pyx6g/w-d-xo.html
Great video mate! Thanks for the content!
A lot of stocks and in particular the popular stocks you yourself have invested in have taken a big drop in recent days. I’ve been investing for a few weeks and saw my investments go from +100 to -250 in about an hour.
Companies like AMD & Tesla have been hit quite hard & I created a pie similar to your investment portfolio so I’d presume you’ve been hit the same.
Is this a time to just relax and hope it goes back up, or is it a time to invest? And if so, which companies that have been hit are best to invest in?
Could be another idea for a video in future? :)
Thanks in advance.
It’s just a short term blip - I invest for long term and I don’t really care about these. It’s related to new policies that Biden is or may be implementing and some other stuff but for me it doesn’t matter. My stock grew by a ridiculous amount in the last 6 months - there will always be ups and downs - the key is to think long term (in my opinion - do your own homework, not investment advice, blah blah) 😂
Question is is it post tax or pre tax of the salary it can be invested?
Hi just watched ur video and learning about isa I have made an slow and steady one just want to what the different is between bundle isa and slow and steady one
Can you suggest which bank is the best to open and ISA account please
Did you find out mate?
For the last tax year, my department opened a Cash ISA in January 23, and then deposited a new amount into the Cash ISA account in February (no more than 20,000 pounds at the time).
Then in the second tax year, that is, in June 23, I injected a new amount into the same Barclays Cash ISA (total has exceeded 2 pounds). Barclays injected funds into 2 different tax years separately.
On the same day, in June 23, I opened an ISA Cash account in another bank, Lloyds Bank. That is, now I have opened a CASH ISA account in 2 different banks, but they have separated 2 tax years and different banks. Do this Got it? Thank you.
Opened the first ISA Cash Account in January 23, and deposited some amount in February.
In June 23 of the second tax year, the additional amount was added to Barclays.
Opened an additional ISA CASH account at Lloyds Bank in June 23.
Could you comment on fidelity? I’ve heard a lot of good things about it but mainly from US customers
I've had a LISA for many years in which i've held shares in all sorts of companies, including Tesla. depends on the provider. i know HL allow you the full range of individual company shares.
Hey Sasha would you ever consider making videos on starting your own business?
I tried doing a bit of that on this channel, but those videos flopped big time because they were off topic.
I have started my 2nd channel which is all about building an online business though called The Sasha Yanshin Story - if you haven't seen it, check it out - that's what that channel will be all about :)
th-cam.com/channels/ue_HjkF3_K4cx20aaYnqtg.html
@@SashaYanshin nice one subscribed now!
I've just opened accounts with invest engine and trading 212 but each says I have different amounts left in my ISA does this mean I have a different ISA with each app as I thought you could only invest in one stocks and shares ISA per year
Thanks for this great video. I sold a part of my vangurd stock and share ISA account on 06-June 2023 but did not invest any money in it from 01-April-2023. Can I now open a new stock and share ISA account with trading212 and invest in it? I know I can't put in money in two different ISA accounts in one financial year. But, I am confused if I can sell from one and buy in another one. Please can you confirm if this is allowed? Thanks.
Tried to sign up for Trading212 but there's a waitlist, sadly. Hope I can still use your promo!
They have said in their forums after a lot of people complained that they will honour the free share links when the sign up reopens because they do track them when the waiting list was created. We'll see if that transpires but even if not, you can add the bit at the end of the link in the "Promotions" section of the app to get the free share anyway :)
LISA shouldnt be apart of the £20,000 and should be its own separate allowance per tax year
Is a child’s trust fund the same as a juniors isa??
Hey Sasha, is it allowed to use the money in a lifetime ISA to buy a duplex, live in one part and rent out the other? As far as I know buy to let is not allowed. Great content!
You've been watching too much Graham Stephan! 🤣
In the UK, buy to let only works on an entire property so to answer your actual question:
1. The LISA is there for personal first home purchases only - the money gets wired directly to the solicitors doing the transaction and so you won't be able to do a Buy To Let purchase with it as that is definitely NOT the intent.
2. Having said that, you can buy your first property outright and privately rent out a room to a lodger or something along those lines which can be one option
3. OR you can buy your first property, live in it and if at some point in the future you choose to upgrade, for example, you could switch that property to a Buy To Let and move somewhere else
Does it matter when you pay into an ISA during that financial year, could you do it all at the end?
Depending if it’s monthly or annually, the interest received will depend on the average balance stored on the account over a period of time; it’s called daily periodic rate. You can pay into ISAs at any time but the interest will always occur on the monthly/quarterly/annually set date.
Can i open S&S ISA i'm current working in UK with BRP (skilled worker VISA) card
What happens when you decide to start withdrawing from your ISA? Do you have to pay any taxes?
Question. If i open ISA shares account and purchase some shares, can I then later transfer my ISA account to a different broker?
I read somewhere it is possible, but will my purchased shares get transferred as well ?
You can. Many of the new providers don’t let you move positions. So you’d have to sell all your stocks, transfer the cash and then buy back in on the new platform (and pay all the fees).
However you can also leave the old ISA and open a new one in the new financial year and start depositing into that instead (you’ll then have 2 different ISA accounts - the old one and the new one)
Hi @Sasha Yanshin, appreciate its an older vid - I have a small ISA with an IFA and wanted to also set up an ISA with Freetrade to buy TSLA (not able to do this via the IFA), can you spread your £20k across more than one ISA?
Great video bud👌
Also how can you open a lifetime isa account? Might start one so I can build some money towards my first house
Just look it up in search and comparison websites - there's a few different options out there.
Pretty specific but for LTD companies is it worth paying yourself the £34,000 out of the company (and pay income tax/NI) to max out the £20,000 ISA per year?
I’m 18 so very new to finances - I didn’t realise I couldn’t deposit money into more than one ISA. I have a Help to Buy ISA and a Cash ISA. Is it worth me closing the Cash ISA and opening a savings account instead for those general savings, so that I can start putting money into my Help to Buy ISA - I would like to start building a house deposit and making most of the higher interest rate with that ISA. Would I be allowed to transfer to the Help to Buy ISA if I close the Cash ISA, even though I’ve already transferred to the Cash ISA this financial year. Hope that makes sense?!
I hit the like but it turned black :(
If I were to only invest using an ISA with no other source of income, do I need to fill out a self assessment form?
Hi amazing video extremely informational. I have a question with the life time ISA can I use that ISA and a help to buy ISA or can you only use one of them towards a first house. Thanks
My understanding is that you can only use ONE of them and not both at the same time. However... you can transfer money from a Help to Buy ISA to a Lifetime ISA. If you transfer the other way, you have to pay that withdrawal penalty.
But as always this is not advice - just my opinion so make sure you do your own homework!
@@SashaYanshin I understand thank you for you reply.
why is the interest different every month on my fixed cash ISA account
Hi Sasha - thank you for such an eloquent and super informative video - I have a question to ask - I put £8 k on a cash ISA and £12 K on a Vanguard LifeStrategy 100% Fund but now I changed my mind and want to withdraw the £8k from the cash ISA and invest part of it on the S&S ISA instead - is that possible or because I paid it in already I cannot use this allowance anymore this year? Please help!
There usually penalties for taking out of your ISA
If I want to buy Index funds/ETFs on Vanguard but at the same time invest in individual company stocks (for example on Trading 212), would I only be able to have a Stocks & Shares ISA for one of them and pay tax on the other? Also, if I buy Vanguard ETFs on Trading 212 which also offers individual stocks, does this mean that they could technically be under the same S&S ISA? Thanks!
Very informative video…. Thank you. Pls if I invest £4000 into LISA and not put in any other money, will I be entitled to the 25% every year? That is will the initial deposit of £4000 keep resetting every year? Hope it makes sense….
Bonus is only once
Hi, I have a question, if I have a £15000 in Cash ISA and £5000 in S&S ISA in March 2021 which is the limit of £20000 per tax year, do I need to open any new ISA account in the next tax year in April 2021? or I can top up to those ones that I have and start to count £20000 again? I'm new to investing and want just to be sure if I undestand this right. Thanks
You can continue using the same accounts - the limit is just on the £ you put in but you can keep the same accounts and add more money to them from 6 April onwards 👍
@@SashaYanshin Thank you very much for help.
@@SashaYanshin Great response to the adding more money question.. when do I start counting £20000 again? lets say I opened a Cash ISA last month Nov 2021, do I have to start again after 12 months (meaning Nov 2022), or it is always from April?
@@AhmedKMoustafa2 Alway from April 6 onwards.. coz financial year count 6 Apri to 5th April.
Another great video, thanks, I opened a help to buy ISA just before its closure , after watching your videos I'm thinking to stop depositing money to it and actually withdraw some and invest in ISA shares and stocks, do you have any thoughts or advice on that?
Can’t really share advice and it does depend on what your plan is with the Help To Buy and what returns you’re getting but... Stocks and Shares ISAs have the potential to earn far more than some of the other ISA options in the long term... BUT they also come with way more risk and way more volatility so that’s a choice you’ll have to make for yourself!
@@SashaYanshin Thanks Sasha.
Considering the rates banks provide for ISA and the current inflation rate, I believe there are relatively reliable returns on less volatile shares such as ETFs, I assume investment is a better choice.
@@arashriasatian6836 They are likely to be higher based on historic performance, but they are certainly more volatile too :) Unlike savings, investments can and do go down in value so it depends on what level of risk you are comfortable with!
@@SashaYanshin You're right, I think the news of the negative interest rates annoyed me more than I realise it :)
Sasha, really big question that I think many people have. If you make gains in a S&S ISA do you have to pay any tax when you withdraw money? As a daft example, say I invest £5k and make £100K, can I withdraw the £100K and pay no tax? Many thanks for your help and time and effort you put in. It IS appreciated by all.
I tried to answer that as clearly as possible in the video buy guess I should have made the point more obvious!
ALL gains from a S&S ISA are tax free irrespective of how much you make.
If you invest £5k in a Stocks and Shares ISA and make £1 bazillion in gains from it, you can withdraw the entire £1 bazillion to your current account - no Capital Gains, Income or Dividend tax will be due.
@@SashaYanshin Hehe. Just me being dumb sorry. I just wanted to make sure the money you withdraw was yours and not a ‘fugazi’ as they say in WOWS 🤣 Thanks a lot Sasha.
Hi, do you have a link of the types of instruments you can trade in your stocks and shares ISA? For example, can you trade futures or CFDs or any form of derivatives? Thank you
Hi wants the best Isa for USA stocks, is Freetrade the cheapest to hold for like 10 years
How much do you pay tax if you invest more than 20000£?
Could you do a video on FX charges when using a UK ISA? You can't hold any currency other than GBP so everytime I buy shares in USD I pay an FX charge, then when I sell those shares I get charged again for corrency converting back to GBP. This type of fee can make a huge difference and some brokers charge outrageous FX amounts. Interactve investors for example is 1.5%, so in the above example I'd be losing 3% per trade.
Yeah - I do talk about it in some of the videos about specific platforms (e.g. Freetrade). The 1% to 1.5% that traditional brokers charge is insane - Freetrade is on 0.45% (so 0.9% both ways) and eToro only charges on deposit for converting into US Dollars (0.5%) and then on withdrawal. Trading 212 doesn't charge anything as it stands, but they haven't accepted new accounts for about a month now.
@@SashaYanshin As someone who just recently found your channel and is a fan I was surprised this wasn't covered specifically when I searched for it. I understand content creators from the US and elsewhere not doing it but as UK channel I think it's a fairly large blindspot given how big of an impact that conversion fee can have especially for people that have a tendency to buy/sell a lot rather than buy/hold. Even 0.45% each way adds up to a serious amount over time and we UK investors should be demanding much better rates given it's the most liquid market on earth.
@@ciarancanning9292 Yeah - I actually think those fees are intentional and I agree with them. These are investing platforms rather than trading platforms - their whole design is not really suited for active trading starting from the way trades are fulfilled to the data you get to the reporting. I know some people use those platforms more actively, but the fact is - these are virtually free and it does actually cost them to execute trades not only in costs and fees but in capital tied up while the 2-day trade process completes.
I'd do the same thing probably if I was in their shoes. You want to have a great investing platform that discourages day trading because that really is a whole different kettle of fish and there are dedicated services for those needs.
@@SashaYanshin Fintech is going to change the game in this respect. There's no reason why trades can't use modern tech and be settled instantly without the middle men other than to continually allow the usual culprits to run the markets.
@@ciarancanning9292 The issue is that access to the market is carefully controlled by entities such as the DTCC and the power that comes with a virtual monopoly on executing trades is not going to be let go of lightly...
can cash ISA and stock ISA can switch to each other after deposit for 1 yr?
i transferred my child trust fund into that by accident and when i visit the website i used it says there is £0? could u pls explain how i would get that money
Hi , I have been paying into a stocks and shares isa this tax year , can I do a transfer to another broker in the same tax year and close the current one and then start funding the new one, or do I need to wait until April to do a transfer now.
I have just tried to do a transfer with interactive brokers and got the message " you can only contribute to one stocks and shares ISA per tax year" and I can't seem to get clarification on the rules online.Thanks
Hi Sasha, what about you invest £15,000 in stocks & shares isa and stock goes up to £25k value and you sell them all and if you then withdraw £10000. will there be any tax / CGT?
Nope. Your ISA stocks can grow to £69 quadrillion and you still won’t have to pay any tax 👍
@@SashaYanshin Thankyou for your kind reply😊👍
@@SashaYanshin Thank your for answering
I have the ISA account and recently recieved a dividend from US stock but it seems they didnt take 15% witholding tax? It says “0” withhold tax ?? Is that normal for ISA account or do i need to declare that small dividend ?? Thanks
I understand I dont pay tax on the money I get out of an ISA, but do I pay any tax on the money I put in? let say I make 20k from my job as a sole-trader, and I want to invest all 20k in an ISA, do I pay tax on the 20k before I put them in an ISA?
Hi Sasha , can we invest 20k into Stock ISA acc or is there a limit for stock ISA’s?I understand we have limits for life time ISA etc., but in case I am not utilising those accounts can I use all my funds into stock ISA?
A stocks and Shares ISA can use your full £20k allowance if you want.
Thanks Sasha , that was too quick and indeed a great video!!
Great content, but I am a half brainer and got some questions. Is the limit of 20k only applicable on the money that you put in yourself or that sum also includes all the interests or returns (in case of stocks and shares) that you may get? Eg. if you invest 18k a year in a stocks and shares ISA and if you were to sell your stocks you would make 23k, would you be taxed on the 3k that are above the 20k limit?
I have an entire video where I answer these questions and some others you might have - check it out!
th-cam.com/video/ZrbiiHbk0Ns/w-d-xo.html
@@SashaYanshin cheers
What i don’t understand is, at the end of a full isa year, say i had £20k maxed out, what then happens to that account and money? Can i continue to add funds to that same account in year 2 and will it still pay out interest for the total amount from year one, plus the year 2 amounts?
Or does that account stop and just pay the interest it gained, leaving it dead and useless
I can’t find any information on this ANYWHERE! It’s doing my head in!
Yes. You can keep adding the annual allowance every year. And everything in the account can be invested.
Hi Sasha, thank you for such tremendous info! I'm all into saving and this content is eye opening, as to there so much more than just keeping you money under the pillow...
I have a question regarding an annual contribution. Say I was to put in £4k maximum allowance into the LISA, would I get the 25% bonus in few months time, in April, just like if I was to put that amount at the end of March to receive it in few days, so that the time frame doesn't matter as long as it is done annually?
The time frame matters for when your deposit is made. If you deposit either side of the financial year changing, you can essentially do double by doing half either side. The 25% may not come through immediately or even quickly - depends a lot on the processes with whoever you’re using for it.
@@SashaYanshin So do you mean if I'll deposit £4 thousand before 4th April and £4 thousand after, I'll be entitled for 25% on the one before and on the one after, getting to £10 thousand by the end of this, 2021 year?
@@alexeykotovrasov9221 Yep. The switch between tax years is 5 to 6th April :)
@@SashaYanshinToo many fours.. :) Your replies are just as convenient as the content, terrific!
What about council tax 👍 i have money i should be using pay this but never done it so might start investing and the council only lose money never see any gains anywhere
I openned two isas without knowing that it is not allowed to invest in both and I did. The amount is very small yet as I have just started, less than £400. How could I fix it?
Your best option is to call the HMRC ISA phone number (look it up) - they can tell you which one you should keep etc and what to do. It’s a common mistake but that should fix it :)
Thank you for your stocks and shares ISA explanation, So ,no tax to pay UK, and US will be 15% taxed at source , taken automatically , have i got that right . ?
In the US only the dividends are taxed. If you invest in growth stocks, there is no tax on the growth in their value :) The US dividend withholding tax will be taken automatically - you’re right.
@@SashaYanshin Appreciated your response
can you use lifetime isa to buy a flat and not a home?
Hi, great video. Could I just ask, if I want to open an ISA today for an amount I want to pay in to per month up until 10 years where I plan to cash it. Would I need to open an ISA every year to benefit or will the same ISA account just reset every April....if that makes sense?
You don't need to open a new account every year. You can keep the same exact account and the annual allowance does indeed get reset every financial year.
Hi Sasha, thank you for your video, it really helps. I want trade Nas100 and US30. How that works in terms of tax ?
Quite simple - the growth in stock value is tax free and any dividend pay outs will have the 15% Withholding tax kept back before it’s paid out to you.
@@SashaYanshin So they will hold 15% any time i am cashing out money from my trading212 account to my bank account. Is that right ? thank you for your help
@@bogdanbuhus9175 Nope. Every now and then some companies will pay out dividends - this is part of their earnings that are distributed to shareholders.
15% of those payouts only will be withheld.
This does not affect your invested funds. If you have £1000 invested in a company that pays 2% dividend yield per year (for example), they will pay you £20 in dividends but you will only receive £17 so your portfolio will now be worth £1,017 in total.
If you choose to withdraw that in the end, there is no tax or fees due - you get the full £1,017 in your account.
Hi Sasha, another great video again. Just a dumb question of mine. Say if I deposit £20,000 to my S&S ISA account in tax year A, can I still buy and sell shares using these £20,000 the following tax year? Thanks a lot.
Yep - you can make trades whenever you want - the £20k per year restriction is on depositing money only.
This info is really helpful, but advertising trading 212 which I'm sure is a good platform for investing, seems a bit disingenuous especially for people looking for an unbiased view. I imagine you talk from personal experience, but I would've prefered if you kept it out or left it until the end to talk about specific platforms
I'm new to you, if i want to cancel isa account before the date is there any consequence
I’m 18 and am looking to open a S&S LIFA for retirement.
Would you recommend a S&S LIFA or a S&S ISA?
By LIFA do you mean LISA? None of them are "true" stocks and shares and other than the free 25% the government gives which is awesome, I am not a big fan of the features personally.
@@SashaYanshin sorry my bad, I mean LISA.
Would it be a wise move to Max out a S&S LISA over a normal LISA as I hage more time for growth?
Is this extra 25% also automatic put back to work in the market when given?
@@Dazzl3r my understsanding is yes - I have never used LISA as I bought my first house way before they came about. I can't tell you if it's wise but if it was me and someone was offering an almost immediate 100% guaranteed 25% return on my money and I knew I would be using that investment soon, I would be all over that :)
Hi Sasha, i opened trading212 ISA in 2020, do i need to close it to used Vanguard ISA? I don’t like to close my Trading212 ISA but i haven’t deposit there this 2021, can i have both if i don’t deposit anymore to my Trading212 ISA?
You do not have to close it - you can keep it open. As long as you don't deposit money into it during this financial year, you can open any other Stocks and Shares ISA and deposit into that instead. 👍
Can a 40+ open the Lifetime ISA?