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Please remember that the value of all investments can fall as well as rise, and you may get back less than you invest. If you’re not sure about investing, seek financial advice. There will normally be a charge for that advice. Tax treatment depends on personal circumstances and may be subject to change.
We don't provide advice so if you are in any doubt about making your own investment decisions, we recommend you seek advice from a suitably qualified financial adviser. There will normally be a charge for that advice.
You can have more than one Stocks and Shares ISA, but you may only pay into one of them each tax year. You are allowed to have other permitted types of ISAs at the same time. However, you can only pay into one of each type of ISA in a tax year (subject to the annual ISA allowance).
No, that’s one of the best things about a Stocks and Shares ISA. Any dividends and interest payments from your shares are completely tax-free. You also won’t need to pay Capital Gains Tax on any gains from your investments. If you do earn any interest, this will also be free from tax.
Yes, you can. When you transfer, the cash will stay in your account until you choose to invest it. You can transfer an existing Bank of Scotland cash ISA or a cash ISA from another provider to one of our Stocks and Shares ISAs.
As with all investments, there is risk involved with a Stocks and Shares ISA. It’s important to remember that the value of investments and the income from them can fall as well as rise. Before taking out any investment product, you’ll need to be clear with how you feel about risk and how able you are to take losses.
A dividend is a payment made from a company to those who have bought and hold their shares, on a set date, usually when a company has made a profit.
If you do not invest within an ISA, you may pay tax on any amount over the dividend allowance. Following the Chancellor’s Autumn Statement in 2022, the dividend allowance has changed to £1,000 in April 2023. It will be further reduced to £500 from April 2024.
But don’t worry, if you are investing through an ISA, you are protected from this tax. If you’re not investing through an ISA, you can open one today.
Capital Gains Tax is tax you pay on any gains you’ve made from selling assets, such as shares. The current allowance is £6,000, following the Chancellor’s Autumn Statement in 2022. You will have to pay tax on any gains above this amount.
A further reduction to £3,000 will take place from April 2024.
If you invest through an ISA, you will not pay this tax on any gains made through your investments. If you are not investing through an ISA, you can open one today.
Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.