I’m aware that other companies will give you a new ISA for each tax year (as thats the law you are able to have multiple isa’s) is anyone aware whether T212 do this too? Or are you only able to have one isa with 212?
I’m not sure I understand? You can open a new ISA each tax year but only invest in that one. Though, if you’re sticking with Trading 212 why would you need a new ISA? What advantage does it bring to open a separate one each year?
Yes i am aware but will trading 212 give you a new isa each tax year? I haven’t been around long enough to know if they do?
This is not how it works. Your existing ISA stays open and you can add a new £20k to it once 6 April arrives. There is no need to open any new ISA.
Things may be about to change for UK taxpapers. Mentioned in newspapers today as possibilities:
- Reduction or freezing of the capital gains tax free allowance from £12,300,
- A lifetime cap on the total amount a person can save in their ISAs (as presently happens with SIPPs),
- Reduction of the annual ISA allowance from £20,000,
- Tax capital gains at income tax rates,
- Freeze income tax band thresholds,
- Wealth tax.
Stay-tuned on 3 March when the Chancellor gives spring budget.
Scary stuff. Hope the cap isn’t too low…
That’s extremely useful thankyou!