Aberdeen Asset Management is an asset management corporation which offer the Aberdeen investment ISA.
Aberdeen Asset Management was founded in 1983 by a group of investors who bought a £50million investment trust in Aberdeen, Scotland, where the company is still based.
About Stocks and Shares ISAs
A stocks and shares ISA permits account holders to invest in a range of different funds, while protecting any gains made from investments from Capital Gains Tax. Dividends within an investment ISA will have a 10% income tax deduction at source but there will be no further income tax to pay.
As stocks and shares ISA involve an element of risk, it is important that you understand that before you invest. The value of investments, and the income from them, can go down as well as up and you may get back less than the amount invested.
Finding a stocks and shares ISA
Stocks and Shares, and other types of ISAs, are offered by a variety of providers. It is therefore a good idea to shop around providers to try and find an Individual Savings Account that fits the way you wish to invest. Some may require certain investment balances and charge trader fees.
Remember that you can only open one investment ISA in each tax year; you may however be able to transfer to another provider.
You can use the tables on this website to compare a selection of different ISAs from various pages, and follow the links to find out more or to apply.
Other types of ISA
Cash ISAs are another type of ISA. They operate more like a typical savings account offered by banks in building societies, in that the money deposited in the account accrues interest. The main difference however is that interest is paid tax-free on the account. These types of account are not typically capital at risk products and usually enjoy Financial Services Compensation Scheme (FSCS) protection.
It is possible to open both a Cash ISA and an Investment ISA within the same year, however if you do so you will need to break up your overall ISA allowance between the two accounts so you do not exceed it.
To be eligible for an Investment ISA you must be:
- Aged 18 years or over.
- A resident in the UK, or a Crown Servant or their spouse/civil partner if you do not live within the UK.