Can I trade derivatives in an ISA?
Probably not. I've never found anything to explicitly say that you can't but I've never found a provider which offers derivatives within an ISA wrapper.
Also derivatives are high risk and are only suitable for the most sophisticated investors.
What's the difference between a PEP and an ISA?
What can you buy in an ISA?
You can invest in managed funds, investment trusts, RETIS, shares, bonds, preference shares and gilts.
You can invest in managed funds, investment trusts, RETIS, shares, bonds, preference shares and gilts.
Can you buy AIM shares in an ISA?
At the moment no. But there is talk about them being allowed in future so we'll just have to wait and see.
At the moment no. But there is talk about them being allowed in future so we'll just have to wait and see.
Can you use an ISA for trading?
Yes. There are no limits to the number of trades that can be placed within an ISA and all profits can be taken without tax.
However, dealing commissions for ISA investors are quite high compared to other brokers so you may find it hard to overcome costs when trading. Frequent trader rates are usually available but only after you've paid over £100 or so in commission to the broker in one month.
Yes. There are no limits to the number of trades that can be placed within an ISA and all profits can be taken without tax.
However, dealing commissions for ISA investors are quite high compared to other brokers so you may find it hard to overcome costs when trading. Frequent trader rates are usually available but only after you've paid over £100 or so in commission to the broker in one month.
Who can open an ISA?
ISA's are open to anyone who is a UK resident and is over the age of 18.
ISA's are open to anyone who is a UK resident and is over the age of 18.
Does it cost to have an ISA?
This depends on your provider and what you invest in. Some ISAs will be free if you invest in funds where the manager earns commission. However, if you invest in shares you will have to pay dealing commissions and sometimes a management charge/holding fee.
This depends on your provider and what you invest in. Some ISAs will be free if you invest in funds where the manager earns commission. However, if you invest in shares you will have to pay dealing commissions and sometimes a management charge/holding fee.
Do you have to declare income and profits to HMRC?
Since there is never any tax to pay on ISA gains there is no need to declare them
Since there is never any tax to pay on ISA gains there is no need to declare them
No comments:
Post a Comment