AJ Bell YouInvest Investment Questions

new2invest

Hi all,

I've just created a stocks & shares ISA with AJ Bell YouInvest, and I have some really really basic questions, as this is my first time ever investing a small amount of cash.

1. When I search US shares such as MSFT, I'm given a quote - but am I legally able to purchase these as a UK resident and citizen? I also see US funds available for investment there. Do I need to send them a W-8BEN first before buying either?

2. Will I be required to fill out a self assessment tax return if I invest in US shares/funds? I am not self employed and pay tax by PAYE and want to avoid self assessment.

3. Does the s&s ISA have some tax limitations? I know I can put up to £20k a year in, but lets say my shares/dividends grow to over £20k inside a year, will I be taxed on these gains?

Thanks in advance.:beer:

Trentenders

1. Yes you can, and you can do the W-8BEN form whenever you want (it's not compulsory, but it will save you from needlessly paying some tax).


2. No


3. You're not taxed on dividends or growth inside the ISA. The flip-side is that you also can't make use of any losses to offset against tax.

new2invest wrote: »

Hi all,

I've just created a stocks & shares ISA with AJ Bell YouInvest, and I have some really really basic questions, as this is my first time ever investing a small amount of cash.

1. When I search US shares such as MSFT, I'm given a quote - but am I legally able to purchase these as a UK resident and citizen? I also see US funds available for investment there. Do I need to send them a W-8BEN first before buying either?

2. Will I be required to fill out a self assessment tax return if I invest in US shares/funds? I am not self employed and pay tax by PAYE and want to avoid self assessment.

3. Does the s&s ISA have some tax limitations? I know I can put up to £20k a year in, but lets say my shares/dividends grow to over £20k inside a year, will I be taxed on these gains?

Thanks in advance.:beer:

new2invest

Thanks so much. Great info.