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Investment ISAs /

Self Select ISAs

Manage your own investments
Self select ISAs provide investors with a ISA account in which investment decisions are down to them. They're an option for the more confident investor to consider.
Share Dealing ISAs

Share Dealing ISA

from IG

  • Trade From (frequent trader rate): £5.00
  • Trade From (standard trader rate): £8.00

Why we like it: IG provide great value at £5 per trade if you placed 10 trades in the prior month. Pay no more than £8 per trade on UK shares. Over 5,000 international shares to choose from. No ISA transfer fees.

Vantage Stocks & Shares ISA

from Hargreaves Lansdown

  • Trade From (frequent trader rate): £5.95
  • Trade From (standard trader rate): £11.95

Why we like it: Online trading charges based on previous month's activity. 20+ trades made in previous month is £5.95 a trade. 10-19 trades are £8.95 a trade. Less than 10 trades it’s £11.95.

Youinvest ISA

from AJ Bell

  • Trade From (frequent trader rate): £4.95
  • Trade From (standard trader rate): £9.95

Why we like it: Voted ‘Best Share Dealing App 2015’ in Investors Chronicle and FT Investment and Wealth Management Awards and 'Best online Share Dealing provider 2015' in Your Money Direct Awards. Place 10 deals or more per month and pay only £4.95 per online deal in the next month. Place less than 10 deals per month and pay £9.95 per online deal in the next month. Choose from over 4,000 investment funds

Investment Fund Supermarket ISAs

Stocks & Shares ISA

from Charles Stanley

Allows ISA Transfers
  • Protection Scheme: FSCS
  • Fund Choice: 1,500+ funds
  • Invest From: £50 per month or £500 single

Why we like it: Invest through an award winning FTSE company, with extensive research and analysis and competitive charges. Choose from a range of investments including shares, funds, gilts, bonds, investment trusts and ETFs.

Stocks & Shares ISA

from Fidelity

Invest from as little as £50 a month or with a £1,000 lump sum. Investment choice from over 75 fund providers, giving you access to 2,000+ funds. A typical low-cost service fee of 0.35%*. Ongoing fund charges also apply. Capital at risk.

Important Information: * depending on how much you have invested

Junior ISAs

Charles Stanley

from Charles Stanley

Regular Savings
  • Investment Options: Invest from £50 per month or deposits of £500.

Why we like it: Charles Stanley Direct offers a Stocks and Shares Junior ISA with no initial charges or additional annual fees. Choose from a range of investments including shares, funds, gilts, bonds, investment trusts and ETFs.

What is a self select ISA?

Most people who put money into an investment ISA are happy to allow someone else - a fund manager - to choose their investments for them. For those who are new to investing or are too busy to manage their own investment portfolio, it can be reassuring to hand the day-to-day responsibility for your investments to someone else.

However, some people prefer to manage their own portfolio. For those who are sufficiently risk-aware and are prepared to accept the extra work that comes with managing their own funds, a Self Select ISA can offer real freedom of choice.

How does a self select ISA work?

A self select ISA essentially involves taking your existing ISA allowance and choosing either individual shares or a combination of funds to go in it. You can select from a number of investments, including managed funds such as unit trusts, open-ended investment companies (OEICs) and investment trusts, as well as individual equities, gilts and bonds. However, Alternative Investment Market (AIM) shares cannot be included in a self select ISA.

Advantages a self select ISA…

  • As with a traditional investment ISA, any earnings will be free from capital gains tax. Dividends earned by shares held within the wrapper are taxed at 10% - a rate which, when compared to the 40% that higher rate taxpayers would normally pay, represents a substantial saving. So, if you're a higher rate taxpayer and you want to be in control of your own portfolio, a self select ISA can be a tax-efficient way to achieve this.
  • You can avoid paying fees to managers - if you're interested in managing your own investments, why pay someone else to do it for you? Additionally, hiring a fund manager doesn't always mean you're guaranteed the best returns. A recent study found that over the past three years, at least 100 equity investment funds examined had underperformed more than 10%. To put it in black and white - last year, fund managers invested £9 billion and collected £133 million in fees (thisismoney.co.uk).
  • A wide choice of investments can be held within the ISA wrapper - individual shares, standard unit trusts, investment trusts and exchange traded funds are all permitted. If you pay higher rate tax or above, it makes sense to hold some of your investments as part of your ISA allowance.

Disadvantages of a self select ISA…

  • Choosing a self select ISA doesn't mean fees are history - while you might not be paying for fund managementper se, you are likely to be charged a management fee, the format of which will vary. You might pay a fixed amount per year, or a percentage of your total investment. Whenever you buy or sell shares, you'll also be charged a dealing fee. It's important to factor in all charges before you sign up for a self select ISA - for example, if you don't plan on making many changes to your investments, the dealing fee won't be an issue, but if you want the freedom to buy and sell frequently, this can become costly.
  • If you're a basic rate taxpayer, you won't really gain any tax benefit by investing via a self select ISA. This is because you'll only be paying 10% income tax on your investments anyway, regardless of whether you hold these within an ISA.
  • As with all stocks and shares ISAs, you need to be comfortable with the risk that you might lose money.
  • You need to be aware that, in order to build a diverse portfolio, you need to invest in a variety of investments. Each of these will incur dealing charges as mentioned previously.
  • Investments tend to pay off longer term, so you need to be prepared to tie up your cash for a decent period of time - ideally, at least a few years.

In summary - if you're planning to build a large portfolio of shares and are in the higher-rate tax band, then a self select ISA can offer a good balance of investment freedom and tax efficiency.

Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.

Cash ISAs

ISAs are a tax-advantageous way to save or invest, check out some of the ISA options below

ISAs Products

Fund ISAs

There are a range of types of fund ISA

Fund ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

How to choose the best ISA?

7th April 2017

You can invest your full ISA allowance of £20,000 into one ISA or split your allowance between the three types of ISA available. Cash, Stocks and Shares and Innovative Finance. However, this leaves the question of how to choose what works best for you?

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