A fund might be a dud, a fund manager might leave, or you might not be willing to take as many risks as you once did. You can only pay new money into one ISA wrapper in any given financial year, although you can keep wrappers open from previous years. Smaller investing on a regular basis means any drop in share price won't be too noticeable. Finally, it’s ideal if your Stocks and Shares ISA platform has a wide selection of investments. The UK has an excellent threshold system in place for those looking to save or invest money without having to pay tax on it. The buying and selling of financial products carries an inherent level of risk and there are no guarantees that you will make any money. In line with it being a do-it-for-me platform, you choose your goal, timeframe and an amount you'd like to invest. And of course, remember to check any orders carefully before you click ‘buy’ or ‘sell’. These include individual shares, investment funds, investment trusts, as well as government bonds and corporate bonds. You can invest either single lump sums from as little as £250 or £500 or regular monthly sums starting from around £25 or £50, depending on the online share-dealing site. Note that while the platform fee is charged by the platform you choose, the company running the funds will be charging you for the funds. Other extras will include stop losses and buying orders, which will trigger a trade once a share hits a certain price. With an investment ISA, you can invest in the stock market, meaning shares, ETFs, funds and the like, are all on the table. For the sake of our best buys in this section, we looked at the different platforms and portfolio charges. The statements above are The Motley Fool’s alone, are based on our understanding of current legislation, which could change in the future, and have not been provided or endorsed by bank advertisers. If you have a small amount to invest then it's likely you'll be drawn towards percentage-based charging – where you get charged a percentage of your total portfolio – whereas if you have lots of money invested then fixed fees will likely work out cheaper for you. For example, if you invested £5,000 in to a stocks and shares ISA in the 2018/19 tax year and withdrew it all in the same year, you would only have £15,000 remaining. It may also give you the choice of transferring your funds as they are or selling them and reinvesting the cash. Stocks and shares ISAs are highly flexible. More established fund managers will usually charge higher fees, so take this in to account before signing up. A stocks & shares ISA is very different to a cash ISA, which is simply a savings account you never pay tax on. As we mentioned earlier, since everyone’s situation is a bit different, it’s useful to know how to compare accounts on your own. There is a greater potential for better investment returns (via both capital gains and dividend income), but the risk to your cash is also higher. The reason for this is that the UK already offers tax-free allowances on both capital gains and dividends, meaning that unless you earn over a certain amount, you might not actually gain from an ISA. See our Tax rates guide for info on the CGT rates you'll then pay. We then crosschecked this with specialist investment consultancy the lang cat's analysis.
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