Stocks and Shares ISA

[Anonymous No.26989796]

Any lads here have this? I've had mine for 2+ years but never cashed out, I've done some more reading and it appears that all profit is TAX-FREE.

This seems too good to be true. Could I in theory make £1m and then cash that out to my bank account tax free? I try to fill up the 20k annual deposit limit as much as possible.

[Anonymous No.26989904]

>Could I in theory make £1m and then cash that out to my bank account tax free?

yes

[Anonymous No.26990205]

>>26989904
why the fuck are they allowing this? Surely they're going to shut this down soon enough.

[Anonymous No.26990472]

>>26990205
It's been going on for decades you stupid cunt, the government encourages it, they have H2B isas and shit. It's limited to £20k a year so that you can't take advantage of it too much

[Anonymous No.26990517]

>>26989796
jesus christ how thick are you lad

[Anonymous No.26990617]

>>26989796
Pretty sure its tax free up to 20k or something.

[Anonymous No.26990665]

OP how tf have you just realised it's tax free? that's literally the point

>>26990517

agreed but most of the people I know don't even know what an ISA is

granted I'm a peasant

[Anonymous No.26990735]

>>26990617
20k is the annual deposit limit

[Anonymous No.26990786]

This is how it works, dumbass.
>maximum of 20K can be invested per financial year
>no taxes on withdrawal
>no limit on gains or losses

[Anonymous No.26990861]

>>26989796
I have a vanguard Stocks and Shares Isa. The fees are ridiculously low and it is completely sheltered from any tax obligations.

[Anonymous No.26990883]

>>26990786
Wrong, its 20k DEPOSITED each year. Not invested.

[Anonymous No.26990967]

>>26990861
Vanguard is based, I'm sitting on 20% returns p/a

Not bad

[Anonymous No.26990985]

>>26990472
I have a H2B ISA too, but the S&S one seems insane.

>>26990617
No its only 20k annual deposit limit.

>>26990665
I assumed it was tax-free up until the point you take it out of the account. (removing transaction taxes or whatever)

[Anonymous No.26991022]

>>26990967
>>26990861
meant 20% since 2018 my mind is fucking fried

[Anonymous No.26991124]

>>26989904
>>26990205
>>26990786


Except ISAs are literally brainless most retarded retards tier investment for normie middle class faggits.

You fucking lose money in them even with the best interest rates (locking money up for 5 years for 1.5% fucking LOL.
They barely match inflation and are already going below inflation so you lock uo money to lose it.
Imagine it wasnt tax free. It’d be even more fucning useless.

[Anonymous No.26991244]

>>26990985
yeah S&S is the way to go, I have multiple vanguard funds, best performing are the Lifestrategy 80% equity and All Cap Global funds

the real money is made in compound interest, where any profit you make is automatically reinvested to snowball your returns

ez money

>>26991124
>1.5%
depends on your risk tolerance

[Anonymous No.26991254]

that is the entire point bongtard

max 20k deposit a year
tax free for life

this is true as of today, we will see if the pajeet poo on the street cuck decides to change it like CGT etc

[Anonymous No.26991294]

>>26991124
>Except ISAs are literally brainless most retarded retards tier investment for normie middle class faggits.

cash ISA != S&S ISA

[Anonymous No.26991325]

>>26991124
are you retarded anon? that is a cash ISA or similars.

on a shares ISA you can buy whatever the fuck you want

[Anonymous No.26991378]

>>26991022
>20% since 2018
>falling for the boomer ETF meme

[Anonymous No.26991400]

>>26990883
Are you going to deposit 20K and leave it in cash, retard?

[Anonymous No.26991412]

>>26989796
Supporting Jewish hedgefunds is some real cuck shit defund the Jews now

[Anonymous No.26991441]

>>26991378
This is money I invested from a windfall, then I have a fuck around fund too

FIRE by 35/40

[Anonymous No.26991546]

tfw bong ISA is like a burger Roth IRA, except the Roth IRA annual contribution limit is only USD 6,000. Feelsbadman.

[Anonymous No.26991571]

>>26990967
20% fucking kek boomers need to hurry up a die,

[Anonymous No.26992175]

>>26989796
LIFETIME ISA (which you can out into stocks and shares through hargreaves landsown) gives you 25% bonus from government PER YEAR to a maximum of £1000. You can withdraw this slight variation on neetbux with a 20% tax or reinvest in any fund you like with no tax. In general, Lifetime ISA can only be used for property purchasing though but I do know people that just sit 4k in a Lifetime ISA and withdraw an £800 bonus every year to pay for holiday or go for risky investment or whatever. Or be a boomer and just reinvest in bonds and ETFs

Thats 4k of your total ISA allowance which means you have 16k to invest stocks and shares ISA tax free. Most people do it through vanguard

The UK economy is gonna be absolutely fucked for the foreseeable future and I can see them taxing ISAs and the gains on ISAs much more so take advantage while you can.

Can comfortably get 10% returns year on year.

[Anonymous No.26992559]

MY VANGUARD EMERGING MARKETS FUND IS DOING SO SHIT AAAA WHATS HAPPENING I THOUGHT CHINA WAS THE FUTURE

[Anonymous No.26992963]

>>26991124
literally doesnt know what a S&S or lifetime ISA is

>>26991571
20% returns on savings is very very good. Believe it or not most working people dont want to spend weekend and spare time sinking their wage and savings into speculative cryptocurrencies suggested by autists on 4chan

[Anonymous No.26993132]

Invest in Cineworld you dope.

[Anonymous No.26993370]

>>26993132
Is it being shorted? Kinoplex to the moon

[Anonymous No.26993434]

>>26993370
of course it's being shorted

[Anonymous No.26993596]

>>26991124
wow fuck me what a retard

[Anonymous No.26994121]

>>26991124
in stocks and shares ISA's you can literally buy actual shares and you take all the money. ISA's are for everyone except those that have so much money there're better of living in a tax haven. even if you making 200k a year it's smart to have a isa

[Anonymous No.26994582]

>>26993370
It's going down right now, but it is being shorted.

Evening standard already in panic mode saying the meme stock trend is starting over here. Get in early and head for the moon.

[Anonymous No.26994822]

>>26994582
I've seen a few reddit / wsb twitter accounts pop up targeting UK stocks that are being shorted. Didn't see Cineworld get mentioned, but it seems an obvious one.

[Anonymous No.26995324]

>>26994822
It's the most viable.

Pearson is another, as well as Sainsbury. However Cineworld is probably the best bet.

[Anonymous No.26995517]

>>26989796
>This seems too good to be true.
It's not that incredible. You can only deposit up to £20k a year (and that allowance is shared across other ISAs if you also pay into any of those). The "safe" funds you can invest in, like index trackers, typically won't give you massive returns. If you were to throw your entire £20k at a meme stock in the hope that it moons, you could potentially make massive gains and not pay any tax. But doing that is incredibly risky and daft, you'd be better off just putting stupid money on an accumulator bet.

[Anonymous No.26995609]

>>26989796
you can only put in something like £20k a year so will take a while to reach £1m without some decent gains. Or just let that be a safe place for ur money and get 8% dividends each year tax free on that money in there, and keep ur speculation stuff separate

[Anonymous No.26995693]

>>26995517
>lol accumulators
yes i am a poor lower class pleb too

[Anonymous No.26995709]

>>26994822
>>26994582
Gamestop could conceivably turn a corner. It has steady online sales and shops are still operating in the US albeit with restrictions.

The cruel fact is Cineworld has not had steady revenue (with huge upkeep costs) for close to a year now. Latest rumour is UK economy not opening up until May. Even when it does open up it will be at marked reduced capacity and heavy restrictions. Cineworld on the way out ;_;

[Anonymous No.26996371]

>>26995709
Cinemas will see a short term boom once restrictions are lifted.

Won't be sustainable, but people will be flocking back out for the novelty. Then realise they're being shafted for overpriced popcorn.

I think it's a savvy investment tbqh

[Anonymous No.26996396]

GOML you nerds I have a crypto ISA. Have fun with your 8% annual returns on your vanguard funds, can't even buy the equivalent of VGT.

Just invest your dumb fuck boomer savings into your pension in some all cap etf. ISAs and taxable is where you want to risk it. 5% real returns on a yearly basis? call me back when you're 60 with 500k and pissed your life away because "muh risk muh bogleheads"
live a little faggot stop reading reddit and shit. go outside take a look, buy from your local shop, splurge on things you like and stop giving to the jew.

[Anonymous No.26997098]

>>26989796
so trading 212 wouldn't let me open an ISA so I decided "fuck it" and just made a regular trading account.
I bought 150 shares of NOK at $5.
Is it possible to move those stocks to a 212 ISA account or have I fucked myself, bros?

I've not earned a lot this year so won't make it to the £12,000 allowance limit by April unless I'm extremely blessed.

[Anonymous No.26997424]

>>26997098
Just sell before they go over the 12k limit. They won't, you bought a dead meme stock that's 5th in line and the regulations will change after GME to stop people doing this again, if they even could because NOK is barely shorted.

[Anonymous No.26997768]

>>26989796
An ISA is completely tax free. Stocks and Shares ISAs are also tax free.

This means you pay no Capital Gains tax, no income tax, no tax on withdrawals. You put your money in and take it out, there's 0 tax. Most CASH ISAs are scams, but Stocks and Shares ISAs allow you to put pretty much anything in them, all sorts of bullshit so you can make risky trades in an ISA and end up with a large amount of Tax-Free cash. HOWEVER, you can only put £20k in each year. There are some rules about depositing and putting money back in, but you'll have to check with a provider that their ISAs follow "Flexible ISA" rules

Generally speaking, you want the following
>Pension
Max out your contributions because you get tax refunded
>ISA
Max out your 20k a year

Only after these two do you begin to use General investment Accounts or toying with random stocks that aren't ISA wrapped.

[Anonymous No.26997908]

>>26990517
Honestly don't blame him, I'm 41 and hadn't even realised this.
I probably knew about it at some point but completely forgot, so many of these things go under the radar. It's why it's good to have bongflag threads now and then.

[Anonymous No.26998186]

>>26997098
NOK is more of a long hold, a good stock to buy but you're not going to see it double overnight

[Anonymous No.26998221]

>>26989796
is this with your bank or private? I have a S&S ISA with HL but it just seems shit

[Anonymous No.26998252]

>>26997768
I don't understand what a cash/savings ISA being tax-free means. What tax would there be on a savings account normally? Is interest taxed? It only gets like 1% interest at best anyway so that doesn't make a huge difference for me.

[Anonymous No.26998378]

>>26998252
Capital Gains tax
https://www.gov.uk/capital-gains-tax

[Anonymous No.26998595]

>>26991124
This thread is about S&S ISAs, not cash ISAs, brainlet. If you're a bong and trade stocks you're a retard if you don't do it inside an ISA wrapper.

[Anonymous No.26998748]

>>26998252
You need to compare it to a normal investment account rather a savings account.
On normal investment accounts you have to pay tax on gains over £12,500.

[Anonymous No.26998815]

>>26991412
So buy passive funds or pick individual stocks yourself.

[Anonymous No.26999189]

>>26996396
>crypto ISA
Which provider?

[Anonymous No.26999214]

Yep, I max it out every year, up about 22% overall after four years.

[Anonymous No.26999336]

What platform are people doing this on? Hargreaves Lansdown charge £11 for every stock purchase its so stupid

[Anonymous No.26999560]

>>26999336
iweb. £5 a trade

[Anonymous No.26999590]

>>26998378
>>26998748
I know what capital gains tax is but I don't understand the connection with a cash ISA. When you put money into the ISA I thought you can't touch it after that. Are you saying you can invest the money from that ISA and not pay CG tax on the profits? Talking about a CASH ISA here, not stocks and shares.

[Anonymous No.26999890]

>>26990205
It's a government initiative you mong. And yes, if you have stocks and shares the first 20k you buy in a year should be in an isa.

[Anonymous No.27000267]

>>26999590
cash ISA = tax free cash savings account
you can get ones where your cash is locked up for X months and get higher interest (even though it's still fuck all), or have an instant withdrawal one where the interest is lower due to the flexibility

[Anonymous No.27000471]

>>27000267
Yes, that's exactly what I'm asking. Maybe I'm not being clear. How can a cash savings account be tax free? What tax do you normally pay in a savings account? Is interest taxed?

[Anonymous No.27000529]

>>26999336
Trading 212 for ISA. No Fees.

AJ Bell for Lisa. £9.95 trade fee+1% FX for stocks but I mainly use it for funds

[Anonymous No.27000559]

>>26991124
you can buy stocks in your ISA that is why it is called stocks and shares ISA you mong

[Anonymous No.27001048]

>>26991124
This is the calibre of the /biz/ poster. Consider this idiot when taking advice from anons.

[Anonymous No.27001782]

Whats your thoughts on a LISA, I have one but I'm starting to dislike it

[Anonymous No.27002096]

>>26999336
Vanguard, minimal fees and good options

[Anonymous No.27002121]

>>27001782
what seems to be the problem?
>Free £1k on £4k every year
>can invest in S&S as you would otherwise

I dislike it in the sense that the policy does nothing but inflate house prices, but given that it exists you would be silly to not participate.

UNLESS you're a tarq and your first house will be >£450k

[Anonymous No.27002182]

>>27002096
by options I mean options for funds, not puts/calls etc

[Anonymous No.27002218]

>>27001782
Was useful when saving for a house. Havent used it since, the 1k bonus isn't worth sacrificing the flexibility of just investing through a regular isa in my opinion.

[Anonymous No.27002260]

>>27001782
Free 1k every year for 4k, if you're planning on buying soonish worth getting, also some offer higher interest than banks

[Anonymous No.27002347]

>>27000471
savings account is tax free but is objectively awful place to put your money. Literally chucking money away

>>27001782
Its nice getting £1000 cash come in out of nowhere every year.

[Anonymous No.27002384]

>cunts still pay tax in 2021 UK
absolute state of you lot

[Anonymous No.27002756]

>>26989796
>any lads here have this
I fucking wish, but I'm half Burger so 0 stonks for me.

[Anonymous No.27002857]

>>27002260
> higher interest than banks
You should be investing in stocks and shares through your lifetime ISA.

[Anonymous No.27003065]

>>27002384
just printed this out and handed it to my local PCSO you're fucked son.

[Anonymous No.27003166]

>>27002347
>savings account is tax free
BUT WHAT TAXES DO YOU NORMALLY PAY ON SAVINGS?
By the time my wagie income arrives in my bank account it's already been taxed. If I make a capital investment the money I use for it can't come from a cash ISA but that money's locked up. So what tax is a cash ISA saving me from?
"Tax free savings account" sounds like normally if I just left money sitting in a bank account I would be regularly losing some to some kind of saving tax, and unless I've missed something that's not the case. That's why I'm trying to understand what makes a cash ISA different from any other kind of savings account.

[Anonymous No.27003203]

>>27003065
just called the filth on you for going outside for non-essential reasons

[Anonymous No.27003285]

>>27003203

[Anonymous No.27003452]

>>26999336
I use HL, £11 is fine if you're doing large sizes. If you're small fry just put it in index funds.

[Anonymous No.27003718]

>>27003166
>I would be regularly losing some to some kind of saving tax, and unless I've missed something that's not the case.
You would if you had fuckloads in a regular savings account and/or are an additional rate taxpayer. But for most people savings interest is effectively not taxable

[Anonymous No.27004429]

>>27003166
I suggest you do some basic reading or watch some youtube videos on why keeping money in cash is an awful idea and the various options available to you to move your money

>if I just left money sitting in a bank account I would be regularly losing some to some kind of saving tax, and unless I've missed something that's not the case

You are missing something that 'savings tax' is called inflation

>a cash ISA
Absolutely no one itt is advocating for a cash ISA for the exact reason that they are not that much different from a regular savings account. All the chat has been about S+S and LISAs

[Anonymous No.27005600]

>>27002121
Wait, when you say can invest in s&s, you can't use the LISA to do that to my knowledge? It's part of the annual 20k limit but a separate account?

I find it kinda restrictive, only thing I like is the 1k, which is highest savings you're gonna get anywhere.

[Anonymous No.27005618]

>>27004429
>>27003718
Jesus Christ
I'm not keeping money in cash, I'm almost entirely in crypto and stocks. The exception is a cash ISA that I was talked into setting up when I was a teenager and I never understood what exactly it was for, which is why I'm trying to understand now before I empty it into something better. I know about inflation. You don't need to convert me, I'm already converted.
>Absolutely no one itt is advocating for a cash ISA for the exact reason that they are not that much different from a regular savings account
This is exactly what I've been trying to establish
The only thing I don't understand is what the tax is that cash ISAs supposedly shield you from. And from looking it up elsewhere it looks like the answer to my question "is interest taxed?" is "yes". That's it. That's all I was asking.
Making I'm speaking a different language or I'm just a brainlet who can't express himself properly but that's all I wanted to understand.

[Anonymous No.27005945]

>>27002218
Yh the one thing that I don't like is the reduced flexibility. You have to get a <450k house and you can't rent it out etc.

Felt like going yolo and withdrawing to save it in bitcoin

[Anonymous No.27006360]

>>27005600
you definitely can
https://www.hl.co.uk/investment-services/lifetime-isa

[Anonymous No.27006908]

>>27005618
fair enough
I think the thing you are missing is that stocks and shares purchasing is frequently taxed internationally. A 20k allowance for tax free investing in stocks is reasonably generous (and is probably going to change).
Thats why its worth mentioning that ISA is tax free for 20k.

[Anonymous No.27007029]

>>26993132
I may put £1000 into it for the memes, but how high could it really go? We don't get massive shorters this side of the pond do we?