Barclays Stocks & Shares ISA
Barclays is a British Bank and Financial services company, with its headquarters in London. They offer Barclays Stocks & Shares ISA and Cash ISA products.
Choosing a Stocks and Shares ISA
Each eligible person can open up to a maximum of one stocks and shares ISA each tax year, though it may be possible to transfer accounts. This means that before opening an investment ISA it can be a good idea to shop around different providers to try and find the ISA product that fits your specific investment requirement best.
The tables on this website allow users to compare a selection of ISAs from different providers and by following the links you can find out more and apply.
About stocks and shares ISAs
Stocks and shares ISA provide a tax-efficient wrapper for your money, you can deposit up to your maximum ISA limit into an investment ISA in each tax year and use the ISA to invest in a range of ‘qualifying investments’ such as: funds, shares, investment trusts, shares and exchange traded funds.
Gains made on investments within the ISA are not subject to Capital Gains Tax (CGT). Dividends incur 10% income tax at source however there will not be any further income tax to pay on them.
Remember that as the value of investments can go down as well as up, you could get back less than you originally invested.
Other types of ISA
Other types of Individual Savings Accounts include Cash ISAs and Innovative Finance ISAs. As these are distinct separate categories of ISA you can also open up to one of each of these in the same tax year as opening an Investment ISA. Savers who opt to do so however need to remember to break up their overall ISA Allowance between the different account types, so they do not exceed their overall limit; but they can do so at a ratio of their choosing.
- Cash ISAs: Are similar to regular savings account offered by banks and building societies, the main difference is that the interest that accumulates on money contained with the account (up to the maximum ISA allowance) is paid tax-free.
- Innovative Finance ISA: Are a type of ISA that provides a tax-efficient way for individuals to invest in Peer to Peer lending.
ISA providers are required to allow account holders to transfer their ISA to another; however ISA providers do not currently have to permit transfers into one of their ISAs. This means that while it can sometimes be beneficial to shop around to find a better deal; savers need to ensure that the new provider allows transfers in. Providers of certain accounts may impose an interest-based penalty for transferring out, so it may be wise to ensure that this would not negate the benefits of moving your account.
It is now possible to transfer an investment ISA into a cash ISA and vice versa.