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Difference between share dealing account and stocks and shares ISA

What is the difference between these two accounts?

I can't seem to find any benefits from either. Both seem to have similar charges and commission rates for whichever company you decide to go through.

The only thing I can think it could be is the fact that any money in your ISA is tax free. So any money you make in your stocks and shares ISA will be tax free? But obviously the down side is your are limited to how much you can make if you can only put in £15k a year.

What do you guys use/prefer?
Reply 1
Avatar for Reue
Reue
20
You've pretty much summed it up tbh.
Reply 2
Avatar for Limpopo
Limpopo
17
The important thing is that the money in the ISA will hopefully produce capital growth which will be forever tax free subject to HM Government not fiddling with ISAs.

You know what that means?

Well the important thing is time i the market.

If you could put some money in a S&S ISA year in year then give it 20 or 30 years and the compound growth should be massive.

But what to invest in and with whom?

Well the important thing is to keep charges as low as possibly and pick quality funds. Buying into individual shaes is too high risk long term.

A balanced low cost portfolio of funds/investment trusts/ETFs is the way forward.
Original post by claret_n_blue
What is the difference between these two accounts?

I can't seem to find any benefits from either. Both seem to have similar charges and commission rates for whichever company you decide to go through.

The only thing I can think it could be is the fact that any money in your ISA is tax free. So any money you make in your stocks and shares ISA will be tax free? But obviously the down side is your are limited to how much you can make if you can only put in £15k a year.

What do you guys use/prefer?


Also bear in mind that a "stocks and shares ISA" doesn't necessarily allow you to actually invest in stocks and shares directly as some only allow funds. So if you were looking to invest into specific equities make sure to research what your particular ISA allows.

I went for an Investment ISA as that allowed me to invest into specific companies as well as funds/bonds and whatnot. I.e more freedom in choice of investments.

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