hi i just created my trading 212 account today, i chose the option for ISA but i just want to be sure that my investments dont need to be taxed, i thought an ISA was with the bank and not with my 212 account, i just need confirmation that i dont pay tax on my investments on here, can anyone point me in the right direction to find out? thanks
Your assumption is correct - any investments held in an ISA will not be subject to income tax, tax on dividends or capital gains as long as you don’t don’t exceed the annual allowance of £20,000. You can find out more here.
Contributing to more than one ISA of the same type in a given tax year isn’t allowed. So, if you have deposited funds into a Stocks & Shares ISA with your bank and us this tax year, you should notify the HMRC.
1 Like