TSCTrade Execution Only Stockbroking in London

TSCTrade Execution-Only Telephone Stockbrokers

Dealing Line: 0203 0112 315

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Open an ISA with TSCTrade Execution Only Stockbrokers

Adult Stocks & Shares ISA

What is an ISA?

  • Individual Savings Account (ISA) is a tax-efficient way to save your money. This is better known as a "wrapper" in which you can shelter your savings and investments from tax.
  • There are two main types of ISA, Cash ISAs and Stocks and Shares ISAs.
  • TSCTRADE only offer Stocks and Shares ISA accounts and there is an annual Administration Charge of £50 + VAT.

ISA Subscription limits

Eligible adults can invest half of their subscription allowance into a Cash ISA and the rest into an investment ISA or use the overall allowance to solely invest in a stocks and shares ISA within each tax year:
Tax Year Investment ISA Cash ISA Overall ISA Limits
2019/20 £20,000 £20,000 £20,000
You may only pay in up to the limit each year, regardless of how much you withdraw, so think carefully before making any withdrawals.

Key Information

  • Investments held within an ISA wrapper are exempt from Capital Gains Tax (CGT)
  • Unlike Cash ISAs, stocks and shares ISAs aren't always completely tax-free. If you're a basic-rate or starting-rate taxpayer with no capital gains, you'll pay the same tax on share-based investments as you would on non-ISA investments. ISA income does not need to be declared on tax returns. For example, buying a stocks & shares through an ISA will only save you tax if you are expected to pay capital gains tax or are a higher rate taxpayer.
  • There is no further income tax liability for higher rate taxpayers. [Tax rules can change and their effects depend on the individuals' circumstances]
  • However, if you use your stocks and shares ISA to invest in interest-bearing investments, like corporate bonds, the interest is tax-free whatever tax band you fall into.
  • You can Transfer in existing ISA accounts to TSCTRADE at no additional cost, however your current provider may charge an exit fee. Please see our guide for dealing execution charges.
  • You can only invest in a stocks and shares ISA with one financial institution each year.
  • HMRC states that cash may be held in a stocks and shares ISA to invest in qualifying investments. This includes cash subscriptions, interest and dividends, and proceeds from disposals of qualifying investments that have not yet been reinvested.

Who is eligible for an ISA?

  • Private individuals that are UK residents aged 18 years or over and/or ordinarily resident in the UK for tax purposes are eligible to invest in a Stocks and Shares ISA. Please ask your tax office if you are in any doubt.
  • There is no upper age limit.