In this video I go through everything that you need to know about investing and taxes in the UK.
This includes the 3 main vehicles we can use to invest in the UK - ISAs, pensions and general investment accounts.
And the 3 main 'phases' of investing - before investing, during investing (i.e when we are invested in something) and when withdrawing.
Ultimately, ISAs and pensions have great tax advantages. So if possible, make the most of these.
But, GIAs do have their place in specific situations. Not to mention that for some types of investments (e.g crypto) we can only use GIAs to invest.
Just be aware that with GIAs we may be liable to pay capital gains tax and/or dividends tax.
Capital gains tax arises when we sell, and the allowance is currently £3,000 per tax year.
Dividend tax arises when we earn dividends and this happens when we're investing as most funds pay dividends, and the allowance is currently £500 per tax year.
Listen to the full episode for all the details!
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More investing:
📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide
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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.
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