An investment ISA (stocks and shares ISA) is a tax-free wrapper that lets you buy, hold and sell investments without having to pay tax on any capital gains or income made from your investments.
- You don’t pay any tax on any increase in value, or on any income generated by the investments, such as dividends from companies or interest
- The ISA allowance is £20,000 for the 2019/20 tax year
- You can have an investment ISA in addition to other types of ISA (cash and lifetime ISA) as long as you don’t go over the ISA allowance
- You can access your money whenever you like without any charges
This is a flexible ISA which means that if you withdraw money and then put it back in within the same tax year it doesn't count towards your annual ISA allowance.
To open an investment ISA you must be aged 18 or over, be a UK resident and have a National Insurance Number.
The minimum you can invest is £100 lump sum or a monthly amount of £50 by direct debit or £10 via payroll.