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Can I buy shares and get ISA tax benefits

CarpyQS
Posts: 24 Forumite
I'm going to put £3k into a cash ISA, but i also fancy having a little flutter buying shares myself, nothing major and definetly under the £3k ISA stocks & bonds limit but can these be packaged as an ISA somehow for tax purposes? Would this mean paying fees to someone to do so? I was planning to just buy them myself before April but I desperatly want to avoid capital gains tax and fees where possible
any help much appreciated
any help much appreciated
0
Comments
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You can buy shares in a "shares self select ISA". There isnt a large range of these available but they do exist.
They are not as beneficial as they used to be since the tax credit changes but they are still useful for avoiding CGT and higher rate tax. The charges can make a small holding of shares uneconomical, although a couple of years of maxium MAXI contributions and the charges are much more favourable.
If you dont use CGT allowance already, not a higher rate tax payer and your holding of shares isnt going to be that high, you may be better off utilising your CGT allowance when necessary rather than have the self select ISA.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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