difference between ISA & Invest accounts

🤝 Help
1

hi all,

couple of stupid questions, bear with me

what are the main differences between the ISA & Invest account, i have read the only real difference is ISA you can only put up to 20k in a year and any winnings you make, you pay no tax on (even if its 100k?)

i imagine you can only lose what youve paid in and cant lose any more ie go in - or in debt

thanks,
rob

2

Hi @robertkwild welcome to the community.

The invest and ISA accounts can be used in exactly the same way. As you correctly identified, and gains made in the ISA account are tax free.

I’d recommend further reading into how ISAs work to make sure you don’t exceed any allowances.

3

thanks @krr13

i want to do stocks and shares with an ISA account instead of Invest account, so that in mind would see a better investment with my money ie go up and down with an ISA or Invest account

4

The only difference in the returns on whatever you buy in an invest or ISA account would be any potential realised tax liability from sales in the invest account.

Sounds like you might be better with funds?

1 Like
5

What do you mean funds?