Tax on Shares
deathandtaxes.jpg

HM GOV.UK Official site

https://www.gov.uk/individual-savings-accounts/overview

https://www.gov.uk/tax-sell-shares

https://www.gov.uk/personal-pensions-your-rights

Australia Tax Office

Tax year 1st July - 30th June

https://www.ato.gov.au/Individuals/Tax-return/2016/In-detail/Publications/You-and-your-shares-2016/
https://www.ato.gov.au/individuals/tax-return/2017/in-detail/publications/you-and-your-shares-2017/

https://www.ato.gov.au/General/Capital-gains-tax/

https://www.ato.gov.au/Individuals/Investing/In-detail/Investing-in-shares/Shares---helping-you-to-avoid-common-mistakes/

The Benefits of an ISA.

https://www.moneyadviceservice.org.uk/en/articles/stocks-and-shares-isas

Many cash ISAs are now flexible. If your bank offers them, and you withdraw from one, you can put it back into the same account in the same tax year without affecting your allowance. It works on money in old cash ISAs and cash you've deposited this tax year.

http://www.moneysavingexpert.com/savings/flexible-ISAs

ISA Guide

Although you can sell out of a shares account and then put the cash into an Isa, and then buy back into those same shares yourself, there is a risk that the number of shares will fall while you're doing it. Using a "Bed and ISA" service you often just pay for one transaction not both and because it is "instantaneous" the variation between the buy & sell price (the spread) is minimised so minimal loss of shares. Remember, it is not the shares that are being transferred, it is the value of those shares.
"Originally quoted a Selling Price of 2.70p and Buying Price of 2.90p which would have cost me nearly £1,500 to secure the full £20k ISA for 2017/18. The good guys at Halifax told me they would arrange a "manual deal" where they speak to the Money Makers. I ended up Selling at 2.80p and Buying at 2.81p so cost me around £80 - very happy with this" Redirons 10/04/17

STRONGLY SUGGEST SPEAK TO YOUR BROKER.

http://www.alliancetrustsavings.co.uk/isa/

https://www.beaufortsecurities.com/stocks-and-shares-isas-t-12

https://www.hl.co.uk/partners/search/free-isa-guide

https://www.tddirectinvesting.co.uk/stocks-and-shares-isa

https://www.barclaysstockbrokers.co.uk/Accounts/Investment-ISA/pages/at-a-glance.aspx

https://www.ig.com/uk/investments/isa/share-dealing

https://www.halifax.co.uk/sharedealing/our-accounts/stocks-and-shares-isa/Default.asp

https://www.youinvest.co.uk/ A J Bell

http://www.iii.co.uk/our-services

SIPPS*
This is HL other options available.**

If you're investing for retirement, one popular option is a pension such as our SIPP (Self Invested Personal Pension).

Up to 45% tax relief - a £10,000 investment could in effect cost as little as £5,500

Tax-free growth - like ISAs, any growth will be free of UK tax

Withdraw up to 25% tax free - access your money from age 55 (57 from 2028), usually up to 25% tax free with the rest taxed as income

Tax rules can change and the benefits depend on your personal circumstances. All UK residents under 75 can receive 20% tax relief, and 40% and 45% taxpayers can claim back more.
The deadline to make a SIPP contribution this tax year is 5 April. However, if it's something you're thinking about, it may be wise to act before the Budget on Wednesday 8 March in case restrictions are announced. Read more

What is my SIPP allowance?
The general rule is you can contribute to pensions as much as you earn each tax year.
If you earn less than £3,600 or have no earnings, you can still contribute £3,600 (you pay £2,880, the government adds £720).
You should also ensure all contributions you and your employer make this tax year do not exceed the £40,000 annual allowance. It can be lower for some higher earners and people who have accessed a pension. If you have not flexibly accessed a pension, you can carry forward unused annual allowance from previous years to contribute more.
Investments can fall as well as rise in value so you could get back less than you invest.
Find out more about your SIPP allowance

How to make a SIPP contribution
You can start a Vantage SIPP online. If you decide to go ahead, it takes just a few minutes to apply.
You'll be able to manage your SIPP alongside your ISA and you choose your own investments. However, there's no need to choose now - you can secure your allowance today, hold cash in the SIPP and choose investments when you're ready.

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License