These are some of the investment products TOM&Co provide advice on.
Your capital is at risk. The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested.
Levels, bases of and reliefs from taxation may be subject to change and their value depends on the individual circumstances of the investor.
A S&S ISA (Individual Savings Account) is a tax-efficient investment account available in the United Kingdom. It is designed to encourage individuals to save and invest in various financial assets, including stocks, shares, and other investment instruments.
Do I pay tax on my ISA?
One of the primary advantages of a S&S ISA is its tax-efficient nature. Any income or capital gains generated within the ISA are typically exempt from both income tax and capital gains tax (CGT).
How is my money invested?
Unlike a Cash ISA, which is limited to savings in cash, a S&S ISA allows you to invest in a wide range of assets. While S&S ISAs offer the potential for higher returns, they also come with the risk of losing money if your investments perform poorly.
How much can I contribute?
Each tax year, individuals are given an annual ISA allowance, which sets a limit on the amount of money you can contribute to a S&S ISA. The current annual allowance is £20,000. It's important to check the current allowance, as it can change over time.
Do I need to complete a tax return for my ISA?
Any dividends or interest earned within a S&S ISA are typically tax-free, no need to report: Since investments held within a S&S ISA are generally tax-exempt, there is no need to report them on your annual tax return.
A General Investment Account (GIA) is a type of investment vehicle offered by financial institutions that allows individuals to invest in a wide range of assets such as stocks, bonds, mutual funds, exchange-traded funds (ETFs), and more.
Any gains made within a GIA might be subject to taxes on capital gains, dividends, or interest, depending on the local tax regulations.
Generally, you are liable to pay tax on the gains made within a General Investment Account. The following Taxes may apply:
Capital Gains Tax: This tax is applied on the profit made from selling assets within your GIA. The tax rate might vary based on how long you held the investment (short-term or long-term gains) and your overall income.
Dividend Tax: If your investments within the GIA pay dividends, these dividends might be subject to taxation. The tax rate can vary depending on your country's laws and whether the dividends are qualified or non-qualified.
Interest Tax: If your investments generate interest income (e.g., from bonds or certain funds), this income might also be subject to taxation at the applicable rate.
Investment bonds generally fall into two main types, onshore and offshore. Tax treatment of these bonds is where they differ.
An offshore bond is a type of investment wrapper or financial product offered by insurance companies based in offshore financial centres or jurisdictions outside an investor's home country. It's designed to hold a range of investments such as stocks, bonds, mutual funds, and other assets.
An onshore bond is a type of investment product or wrapper that is held and operated within an investor's home country. Unlike offshore bonds, which are based in offshore financial centres or jurisdictions outside an investor's country of residence, onshore bonds are domestic investment vehicles.