What is an ISA and when should you use one?
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- Опубликовано: 12 июн 2024
- What is an ISA and when should you use one? Individual Savings Accounts are really important products or ‘wrappers’. Once you understand how they work and the tax advantages of using them, they can be a really useful tool for building your wealth into the future.
Get 1% cashback on all ISA deposits throughout the 23/24 tax year: www.trading212.com/isa
The offer is valid for new clients who sign up before the end of April 2023. Conditions apply.
⌚ Timestamps:
0:00 - Intro
1:21 - What is an ISA?
1:58 - What taxes can you save?
4:14 - The different types of ISAs available
5:26 - An introduction to the T212 Stocks and Shares ISA
6:23 - How much can you put in an ISA (The ISA Allowance)
8:41 - Withdrawals
9:43 - Transferring ISAs
10:39 - Trading 212's New ISA Offer!
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When investing, your capital is at risk. Investments can fall and rise and you may get back less than you invested. The information contained within the video was correct at the time of recording but may have since changed.
Thanks I am new to 212 Invest & ISA is of particular interest. Useful information here. Its now to know what exactly I can trade into an ISA account including use of PIES.
You can also open multiple ISAs in the same tax year if it is only used for transferring and not adding anything.
Does a UK Stocks ISA protect me from taxes on USA based stocks?
ISA investments and any capital gains generated on them are exempt from taxes. As for dividends tax, it is charged by the company's country of domicile and applies to dividends received in an ISA.
@@Trading212 Thanks for this information.
You're welcome 🙌
@@carey. This means "Yes"
When is the junior available
It's not something we're considering, for the time being, but if anything changes we'll let you know 👌
Not all providers accept transfers from different types of ISA.
I need more detail - this stuff is way way way over my head even after this great explanation. Break it down please.
You may find the information less confusing when written down so head over to our learn page to learn more about ISAs: www.trading212.com/learn/investing-101/what-is-an-isa-and-how-does-it-work
Also, feel free to reach out to us if you have any questions - we'll be happy to explain.
can we open an ISA account at Trading 212?
Yes, you can open an ISA account with us via the mobile and web app.
If I want to transfer my full pot of 100k accumulated over the years on my current Isa to a new Isa… will that keep being tax free even if I’m adding more than 20k to a new Isa in that tax year? I guess yes right? Since I’m not really adding, just transferring.
You're right. Transfers do not affect the yearly allowance.
You u
What I if open an Isa put in 20k and leave it there. Can I still use it when I am not a Uk resident anymore? No topping up obviously.
Yes, you can continue using your ISA account funds if you're no longer in the UK. However, any potential gains might be subject to tax laws of the country you reside in.
uk taxes are ridiculous.
It's corrupt
Its not just the UK :/
@@appeljuicesurfin the uk they tax you when you die
Can I open a lifetime ISA on trading 212?
Offering LISAs is not in our short/mid-term plans. We'll let you know if there are any updates.
Is today the last day to make deposits for this tax year
In case you're referring to an ISA deposit - yes. You can add to your ISA for the 2022/2023 tax year until 23 : 59 on the 5th of April.
Keep in mind that deposits made via certain payment methods may take longer to reflect in your ISA. Depending on when your deposit enters your Trading 212, it might count towards your 2023/2024 allowance.
Nice video, if I make 40k profit in my trading 212 isa account and kept reinvesting the profit but not taking it out of the isa account is it all covered by the isa tax wrapper?