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ISAs

CommShare's service is ideal if you're happy to choose your own ISAs

Save up to £838 instantly when you invest £20,000 in an ISA. Choose from over 1,000 ISA funds offered by companies like Artemis, Fidelity, Jupiter, Invesco Perpetual and many more.

Invest in ISAs the way you want - online or by paper application, with the fund companies or through fund supermarkets. Save time managing your ISA funds - by viewing your valuation and fund performance information in one easy to use online account - FUNDSFOLIO.

Tax benefits

ISAs (New Individual Savings Accounts) encourage you to save in cash, stocks or shares by offering tax incentives.

You will often hear ISAs referred to as "tax wrappers" because they go around your savings, protecting you from paying certain taxes.

Invest up to £20,000 in a Stocks and Shares ISA
For this tax year, ending 5 April 2018, you can invest up to £20,000 in a Stocks and Shares ISA.

Income Tax

  • Interest from savings in a Cash ISA or cash held in a Stocks and Shares ISA is free of Income Tax.
  • All dividends are tax free, but the 10% tax credit on UK share and unit trust dividends cannot be reclaimed. Higher and additional rate taxpayers are exempt from paying further tax on dividends from equity investments.
  • Fixed interest distributions on corporate bonds held in ISAs are completely tax free.

Capital Gains Tax

  • All gains from any investments are free of Capital Gains Tax. However, losses cannot be offset against gains elsewhere.

The ISA manager either receives income gross, or reclaims tax from HM Revenue and Customs. You don’t have to do anything, you don’t even have to declare ISAs on your tax returns.

Types of ISAs

There are two types of ISA, Cash ISAs and Stocks and Shares ISAs. In any tax year you can invest in either or both types.

  • Cash ISAs: Includes bank and building society deposit accounts, National Savings and Investment products and investment or insurance products that aim to produce cash like returns.
  • Stocks and Shares ISAs: Includes individual stocks and shares, unit trusts, open ended investment companies (OEICs) and investment trusts.

CommShare arranges unit trust/OEIC based Stocks and Shares ISAs. CommShare doesn’t arrange Cash ISAs or ISAs that allow you to invest in individual stocks and shares - often referred to as self-select ISAs.

ISA limits

You can invest up to £20,000 each year in ISAs. You can invest lump sums or regularly, subject to minimum amounts that vary by company.

You can invest up to £20,000 in a Cash ISA and up to £20,000 in a Stocks and Shares ISA, subject to an overall limit of £20,000 in each tax year.

You can transfer some or all of your Cash ISA to a Stocks and Shares ISA or vice versa, anytime.

Are you eligible?

  • You must be 16 or over (although until your 18th birthday you can only invest in cash ISAs).
  • You must be UK resident for tax purposes.
  • You cannot hold an ISA jointly, or hold one on behalf of anyone else.

CommShare doesn't give investment advice. If you're unsure about suitability, you should seek professional advice. Past performance of an investment is not a guide to future performance. The value of investments or income from them can go down as well as up. You might not get back the amount you invest. Current tax levels and reliefs will depend on your individual circumstances.

  • CommShare Ltd, 16 Hatherley Road, Sidcup, Kent, DA14 4BG
  • Tel: 020 8308 1308 | Fax: 020 8308 1304
  • email: info@commshare.com

CommShare Ltd is Authorised and Regulated by the Financial Conduct Authority.