Hargreaves Lansdown Investment ISA
Hargreaves Lansdown is a British financial services company based in Bristol, UK. The Hargreaves Lansdown investment ISA is called the ‘Stocks and Shares ISA’ and allows investors to choose from various: funds, gilts and bonds.
Choosing an investment ISA
You are only allowed to open one new investment ISA in each tax year, though you may be able to transfer. It can be a good idea then, to first shop around different providers of investment ISAs to try and find the product which suits your personal requirements best.
You can use the tables on this website to compare a selection of different types of ISA from various providers. Follow the links to find out more about them and apply.
About Investment ISAs
Investment ISAs provide a tax-efficient wrapper for your money, which you can then use to invest in various qualifying investments such as: funds, shares and stocks. You can contribute up to your maximum ISA allowance into an investment ISA each year.
With investment ISAs any gains you make from your investments within the account are not subject to Capital Gains Tax (CGT). Dividends will incur a 10% Income Tax charge 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 ISAs
There are other distinct categories of ISA, such as: Cash ISAs and Innovative Finance ISAs. Savers are allowed to open up to one of each type of account within the same tax year. Savers who do opt to open more than one category of ISA need to remember however, that as their overall ISA allowance stays the same they need to break it up between the different accounts so as not to exceed it.
Cash ISAs: Work much like regular savings account that are offered by various banks and building societies. The main difference is that the interest that, accumulates on money held within the ISA up to the maximum allowance, is paid tax free.
Innovative Finance ISAs: Are a kind of ISA that offers a tax efficient way for people to invest in Peer to Peer lending (P2P).
Transfers
ISA providers have to let you transfer out if you wish, however they can impose an interest based penalty for doing so. There is also not currently a requirement that forces providers to allow transfers in. It is now possible to transfer from a Cash ISA into an Investment ISA and vice versa.
