Which are best stocks and shares ISA for 2022?

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Which are best stocks and shares ISA for 2022?

 Which are best stocks and shares ISA for 2022?
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Highlights 

  • Stocks and Shares ISA is a type of tax-free saving account that allows investment up to £20,000 for the tax year 2021-2022.
  • The Stocks and Shares ISA invests across companies, investment funds and government and corporate bonds that deliver higher return.
  • The stocks and shares ISA charges a variable fee for using their services such as annual platform fee, trading fee, fund management fee and transfer out fee.

If you are based in the UK and looking for some tax-saving investment options, investing in stocks and shares ISA can be a great option. Stocks and Shares ISAs, also known as investment ISA, is a type of tax-free saving account that allows investment up to £20,000 for the tax year 2021-2022 without any tax liability on profits and dividends.  

The account invests across companies, investment funds and government and corporate bonds that deliver higher return. However, these accounts are risker than the saving accounts as it invests in different asset classes that are volatile in nature.

So, it’s important to do your own research to know all the advantages and disadvantages of the scheme and ensure that you are comfortable in taking the high risk for higher returns. The account offers you the option to either choose from a range of readymade portfolios or select and manage the assets for your portfolio. You can also choose to invest in lumpsum or monthly investments.

Also Read: 5 key personal finance tips for 2022

Stocks and Shares ISAs are also known as investment ISA

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Best stocks and shares ISA for 2022

1.         Interactive Investor stocks & shares ISA

Interactive Investor is a market-leading investing platform that provides one of the best-performing stocks and shares ISA plan with more than 40,000 investment options to choose from. These include UK and international shares, ETF, investment trusts, and funds. The platform charges an annual platform fee of £120-£240, a brokerage fee of £9.99 and a dealing fee of £7.99-£3.99, with a minimum ISA deposit of £25 and no trading fee on its investing services.

The platform provides one free trade every month and offers various ready-made funds. It also provides Junior ISA, trading accounts, and SIPP. On Trustpilot, its customers have given an excellent rating of 4.7 out of 5.

2.         Hargreaves Lansdown

Hargreaves Lansdown is the UK’s leading investment platform that offers thousands of investment options such as shares, investment trusts, funds, and ETFs. The platform charges an annual platform fee of 0.45%-0% for funds and 0.45% for shares (maximum £45 per year) and a dealing fee of £0 for funds and £11.95-£5.95 for shares, with a minimum ISA deposit of £100 lumpsum or £25 per month.

Also Read: How can you boost your income in 2022?

3.         Fineco Bank

Fineco Bank is one of the largest banks in Europe with zero account fees from the new ISA. It trades more than 20,000 financial institutions globally on a single account and accesses 26 global markets. It invests and trades in USD, GBP, EUR, and over 20 more currencies. The platform charges an annual platform fee of 0.25% for funds and 0.25% for shares (maximum £2.95 per month) and a dealing fee of £0 for funds and £2.95 for shares, with a minimum ISA deposit of £25.

4.         AJ Bell Youinvest

AJ Bell Youinvest platform offers thousands of investment options to choose from, including funds, shares, ETFs, and investment trusts that can be managed through app or online. The platform allows up to £9,000 investment per year without any tax liability and if you invest over £4,000 in its ISA you get access to its share’s magazine.

The platform charges an annual platform fee of 0.25-0% for funds and 0.25% for shares (maximum £3.50 per month) and a dealing fee of £1.50 for funds and £9.95- £4.95 for shares, with a minimum ISA deposit of £500 for lumpsum or £25 per month.

5.         Halifax Bank

Halifax Bank offers stocks and shares ISA that is independently operated from its parent bank Lloyds with an aim to deliver high returns to long-term investors. The platform offers a relatively small selection of investment selection with three ready-made portfolios for investors who don’t want to be inundated with too much choice. The platform has around 300 investment trusts, 2,000 mutual funds, and 575 ETFs.  The platform charges an annual platform fee of 0.25% for funds and 0.24% for shares and a dealing fee of £12.50 per trade.

Also Read: 8 investing tips by Warren Buffett you can follow in 2022

 

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