First Direct Stocks and Shares ISA
First Direct is a telephone and internet-based retail bank in the United Kingdom, a division of HSBC Bank plc. First Direct has headquarters in Leeds, West Yorkshire, England, and has 1.25 million customers.
Choosing an Investment ISA
Spending some time researching ISA providers before committing to a product is sensible because you can only open one of each type of ISA per tax year. Although, Isa accounts must let you transfer, it is possible that you will incur some penalty charges and occasionally withdraw less than you invested.
When you search for an investment ISA, it’s a good idea to consider things such as minimum investment charges and the range of products it allows you to invest in. It’s also worth checking charges for annual fees and trading as these can often add up.
Use the comparison tables to compare different types of ISA from a selection of providers. Follow the links to find out more and apply.
First Direct Stocks and Shares ISA Review
First Direct offer a simple Stocks and Shares account to shelter your investments up to £20,000 for the 2017/18 tax year.
- No registration fee or annual management charge
- Ability to self-select the eligible equities you want in your ISA
- Your shares listed on the Alternative Investment Market (AIM) are also now available for trading in our first direct Stocks and Shares ISA
- Easily transfer in your existing cash ISAs and Stocks and Shares ISAs. This can take up to 6 weeks
- You can trade online or by telephone
To use their Stocks and Shares ISA, you'll need a First Direct Share Dealing Account as well as a 1st Account to hold the securities and enable the money transmission.
About Stocks and Shares ISAs
While, this kind of account is not usually an investment in its own right, it does provide you with a platform to invest from. An investment ISA can hold money in order to invest in qualifying sources such as government bonds and corporate bonds as well as shares and stocks.
They are generally available as either self-select ISAs that allow you to invest directly into stocks and shares or as collective investment schemes. Stocks & shares ISA are referred to as ‘tax-efficient’ wrappers, as there is no capital gains tax to be paid on gains made on investments held within the wrapper, although dividends do incur 10% income tax at source.
However, it is important to remember with this kind of option that your capital could be at risk. The investments you make could go down as well as up in value, so you could get back less than the amount you originally put into the account.