Hargreaves Lansdown ISA
Hargreaves Lansdown Plc is a financial services based in Bristol, England. Founded in July 1981 the company is a constituent of the FTSE 100 index. They currently offer a Stocks Shares ISA and JISA products.
Finding an Investment ISA
Every tax year, each eligible person is allowed to open up to a maximum of one investment ISA, although it may be able to transfer an investment ISA. This means that it is wise to shop around a wide selection of products to try and find the best deal available to you.
You can use the tables on this page to compare a selection of different ISA types and follow the links to find out more about a specific product or apply.
About Investment ISAs
Investment ISA’s offer a tax-efficient wrapper around up to their maximum ISA allowance for savers to put their money, the money held within an investment isa can then be used to invest into various ‘qualifying investments’ such as investment trusts, shares, funds and stocks.
These products are described as tax-efficient because gains made from investments within the ISA are not subject to Capital Gains Tax. Dividends incur 10% income tax at source; however there is no further income tax to pay upon them.
Remember that when investing that the value of your investments can go down as a well as up and you could get back less or none of what you originally invested.
In addition to Investment ISAs there are other types of ISA like; Innovative Finance ISAs and Cash ISAs, The rules permit individuals to open up to one of each type of ISA in each tax year so it is possible to open a Cash ISA, Investment ISA etc all within the same tax year, however the overall ISA allowance stays the same, so savers and investors who do decide to operate multiple ISA s need to remember to break up their allowance between their Individual Savings Accounts (ISAs) so they do not exceed it.
Cash ISAs: Work much like the normal savings accounts offered by banks in building societies. The main difference is that up to the maximum allowance all interest on money held in the account is paid tax free.
There are different types subsets of Cash ISA depending on how an individual would like to save, some permit the saver to make unlimited free withdrawals others will require the account holder to lock their cash into the product for a predefined period of time.
Innovative Finance ISAs: Offer a tax-efficient wrapper for investments in Peer to Peer Lending.
It is possible to transfer an ISA to another ISA product, with both the same and different providers. However not all ISAs permit transfers in and some ISA will charge a penalty for transferring out.
This means that while it can be wise to periodically shop around providers to check if you could get a better deal from another ISA, before trying to transfer it is wise to first check if any fee you would incur would cancel out the benefits of moving, and to also make sure the product you want to move to accepts transfers in.