Nationwide Stocks and Shares ISAs
Nationwide Building society is a British financial institution; tracing its roots back to 1848 it is now the largest building society in the world, with its headquarters in Swindon, England. Nationwide offer a stocks and shares ISA with Legal & General.
Nationwide do not currently offer Stocks and Shares ISA but do offer a range of other options for investing and savings, including a number of Cash ISAs.
Choosing a stocks and shares ISA
Investment Individual Savings Accounts (ISAs) are offered by a variety of different lenders. Therefore, it's wise to compare different products before applying to ensure you find the best deal for the type of specific stocks & shares ISA you are looking for. ISA rules only permit each eligible person to open up to one new investment ISA each tax year, although you may be able to transfer accounts.
You can use the tables on this website to compare a selection of different types of ISA from a range of providers and follow the links to find out more or apply.
About investment ISAs
Investment ISAs offer a tax-efficient wrapper for an individual’s money. They can deposit into an investment ISA up to their maximum ISA allowance each tax year and then from the ISA invest into a range of ‘qualifying investments’ such as bonds, gilts, shares, funds and stocks.
Investment ISAs are typically described as being tax-efficient because any gains made from investments within the ISA are not subject to any capital gains tax. Also dividends will incur a 10% income tax charge at source but do not have any further income tax to be paid 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.
Other types of ISA
There are other types of ISA such as Innovative Finance ISAs and Cash ISAs, as these are different from investment ISAs individuals can open these in addition to an investment ISA within the same tax year if they so desire. However, if you do open more than one kind of ISA in a tax year you will need to remember that the overall allowance stays the same no matter how many ISAs you have.
Transfers
ISA providers have to allow an individual to transfer out of their ISA, however, some ISAs will impose a penalty for doing so. It is important to remember however when looking for an ISA to transfer to that not all permit transfers in, so you will need to find an account that does.
It is now possible to make transfers interchangeably between ISAs for example from a Cash ISA into a Stocks & Shares product or vice versa.
