RE: Rumours4 Apr 2024 17:05
16:43
Are you asking what an ISA is ?
"A Stocks and Shares ISA, also known as a Self-Select ISA or Investment ISA, is a savings account that lets you invest your money and avoid paying UK income or capital gains tax.
Once you've opened an account, you can choose to invest in funds, shares, bonds, and other types of investments. You can withdraw your money whenever you need to, and you can contribute up to £20,000 a year - this is the maximum ISA annual allowance."
UK Tax Year finishes 5th April so for those with allowance left in this year they can use up their allowance to avoid tax on any gains made.
Some brokers offer "bed and ISA" schemes to enable transfers of shares from trading acconts to ISA accounts often at better terms than straight forward trades.