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UK ISA Accounts Explained (2024)

Sasha Yanshin 115 views

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What nobody has ever explained to newbies is what happens to the £20k in an ISA account at the end of the first year? Can I add another £20k the following year and what happens to the original ISA? Can I just deposit a further £20k in the same account or do I need to open a separate account? There seems to be an assumption that newbies know the basics when we don't
Comment from : @MancUnionMr

Does china have ETFs like S&P 500
Comment from : @efosaodiase501

great video 😀
Comment from : @FarzanAhmad786

25yo here just wanting to do smart things with my money starting now
Comment from : @EvanThomsonmp3

I just turned 44 and feel like I’m late to the investing game I barely have anything in my portfolio except for my workplace retirement account I’ve saved up a decent amount of cash, around £220k, but with inflation soaring again, I’m getting worried about retirement My goal is to stop working by 55 What’s the best way to make my savings work harder?
Comment from : @Vstones

Thanks mate
Comment from : @Nickkventures

im 18 and i will start work next year, should i open a Lifetime ISA account?
Comment from : @OmarMetal

Thank you so much for explaining this
Comment from : @Benjiaviation21

Can you help me out please, single mom feom trinidad 🇹🇹 looking to make some extra cash so i can fix my decapitated home
Comment from : @Totally_not_IzZY

LISA is the worst account, at 60 one will not have interest in spending money, you need money to spend from 20 to 50 years age
Comment from : @superwalker90

Does it matter when you pay into an ISA during that financial year, could you do it all at the end?
Comment from : @trebm

Question is is it post tax or pre tax of the salary it can be invested?
Comment from : @bhushanvinay

Thank you so much Very useful information I’m from Ukraine and thinking of investing to ISA, so when I come back home soon, I can feel more confident
Comment from : @KaterynaKarikova

Can i open S&S ISA i'm current working in UK with BRP (skilled worker VISA) card
Comment from : @alvinjaydejino9716

LISA shouldnt be apart of the £20,000 and should be its own separate allowance per tax year
Comment from : @phonkshop23

What happens when you decide to start withdrawing from your ISA? Do you have to pay any taxes?
Comment from : @phonkshop23

Thanks a lot!
Comment from : @katerynaevteeva2401

I've just opened accounts with invest engine and trading 212 but each says I have different amounts left in my ISA does this mean I have a different ISA with each app as I thought you could only invest in one stocks and shares ISA per year
Comment from : @charlietucker214

can cash ISA and stock ISA can switch to each other after deposit for 1 yr?
Comment from : @vfvf8046

Great video Thank you
Comment from : @lapesnamas

Can you open and invest in a cash isa and a trading isa in the same tax year?
Comment from : @ryankray

Im currently 19 and i think i wamt to start saving my mkney wisly would u say lisa and stock share isa is the way to go as i dont have a house also if i deposit less than 4k in lisa do i still get a bonus
Comment from : @amanrasul9890

So basically, unless you're going to be making gains high enough to be taxed capital gainstheyre crap
Comment from : @Chadhogan111

I'm new to you, if i want to cancel isa account before the date is there any consequence
Comment from : @muyiwaagboola2017

If I want to cancel isa account before the date, is there any consequence
Comment from : @muyiwaagboola2017

Very informative video… Thank you Pls if I invest £4000 into LISA and not put in any other money, will I be entitled to the 25 every year? That is will the initial deposit of £4000 keep resetting every year? Hope it makes sense…
Comment from : @estheredidiongeno1523

Thanks for this great video I sold a part of my vangurd stock and share ISA account on 06-June 2023 but did not invest any money in it from 01-April-2023 Can I now open a new stock and share ISA account with trading212 and invest in it? I know I can't put in money in two different ISA accounts in one financial year But, I am confused if I can sell from one and buy in another one Please can you confirm if this is allowed? Thanks
Comment from : @vireshpatil903

Let's say I put £100,000 into a Cash ISA paying 5 fixed for three years, can I top up £20,000 per year over the fixed period?
Comment from : @asb1619

why is the interest different every month on my fixed cash ISA account
Comment from : @alanbalfour5699

Hi, do you have a link of the types of instruments you can trade in your stocks and shares ISA? For example, can you trade futures or CFDs or any form of derivatives? Thank you
Comment from : @villagerintheshire

Lost me within the first 3 minutes
Comment from : @northwestnutrition

Can you suggest which bank is the best to open and ISA account please
Comment from : @mariamathew4913

Just an FYI, it’s Lisa not Leesa brBest, T
Comment from : @VegasMilgauss

Can someone please clarify to an idiot like me, if i max out 20K this year, can i top up an additional 20K the following and so on? Or are you limited to always having a max of 20K at all times? Thanks in advance
Comment from : @DrStacker

Thank you for this video! It’s very informative 😊brI have a question - when you say that you can put a maximum of £20,000 per year into the ISA account, does it mean that each year, you can put £20,000 or does it mean that you can only have a maximum of £20,000 in the ISA account at one time?
Comment from : @jasmine5133

Thank you very much! Really useful video
Comment from : @oleksiiholiev198

Very informative video! Thank you
Comment from : @dpsm2008

Love your videos ❤❤❤❤
Comment from : @LunaReign

How much do you pay tax if you invest more than 20000£?
Comment from : @WaleedTawfiq

Very well thought out and put together video, definitely helped, thank you!
Comment from : @callumfd

Heya, thats not true, i have a LISA with H&L and i buy single stocks and etfs (not just funds)
Comment from : @sophiadalyrossin

What happens to your isa when you die and your partner is also no more
Comment from : @assassinskillz123

excellent video thank you
Comment from : @sau002

Hi Sasha, so if i understand If invest in a isa for stocks and shares and I want to withdraw money before 59 I will pay penalty, but If i invest in a isa lifetime and I want to buy a house after 2-3 years I can withdraw all the money without tax and also gain 25 from the government?
Comment from : @RelaxWTF

I would like to thank you for your work as this was exactly what i was looking for as a person who knew nothing about ISA and need infomartion starting from entry level this is perfect
Comment from : @Lukas-go2wv

Hi there , I want ask you some thing I did brOpen an account with bank and my account comes with it isa account my question is does the bank will send me an isa card separate from my debit card or the account comes with the same card, let me know please sire
Comment from : @redouanekhecha7490

This info is really helpful, but advertising trading 212 which I'm sure is a good platform for investing, seems a bit disingenuous especially for people looking for an unbiased view I imagine you talk from personal experience, but I would've prefered if you kept it out or left it until the end to talk about specific platforms
Comment from : @awesomefacts101

Hi just watched ur video and learning about isa I have made an slow and steady one just want to what the different is between bundle isa and slow and steady one
Comment from : @nadialaing1084

I feel like this is on 125 speed
Comment from : @buddleiabee

As usual a super helpful video One question, if I was to leave the UK , what happen with whatever money I had in the ISA??? any advise on that?
Comment from : @33candycandy33

i transferred my child trust fund into that by accident and when i visit the website i used it says there is £0? could u pls explain how i would get that money
Comment from : @valentina

I've had a LISA for many years in which i've held shares in all sorts of companies, including Tesla depends on the provider i know HL allow you the full range of individual company shares
Comment from : @gallaghergibson8024

It was very useful, thanks!
Comment from : @TheDominock

If I have a child trust fund can I also open a cash isa account I’m 16
Comment from : @lukesargeant2431

I have the ISA account and recently recieved a dividend from US stock but it seems they didnt take 15 witholding tax? It says “0” withhold tax ?? Is that normal for ISA account or do i need to declare that small dividend ?? Thanks
Comment from : @angelkolarov1375

Nice one This helped 👍
Comment from : @markwoolman784

BEST VIDEO ON YOUTUBE I HAVE WATCHED OVER 5 HOURS WORTH OF ISA INFORMATION VIDEOS!!!!
Comment from : @ldn876

Pretty specific but for LTD companies is it worth paying yourself the £34,000 out of the company (and pay income tax/NI) to max out the £20,000 ISA per year?
Comment from : @bobbygreen6118

Hi Sasha , can we invest 20k into Stock ISA acc or is there a limit for stock ISA’s?I understand we have limits for life time ISA etc, but in case I am not utilising those accounts can I use all my funds into stock ISA?
Comment from : @ananthm6731

I’m 18 so very new to finances - I didn’t realise I couldn’t deposit money into more than one ISA I have a Help to Buy ISA and a Cash ISA Is it worth me closing the Cash ISA and opening a savings account instead for those general savings, so that I can start putting money into my Help to Buy ISA - I would like to start building a house deposit and making most of the higher interest rate with that ISA Would I be allowed to transfer to the Help to Buy ISA if I close the Cash ISA, even though I’ve already transferred to the Cash ISA this financial year Hope that makes sense?!
Comment from : @bethanaddisonevans

great vid, clear and excellent
Comment from : @matchedbettingfaqs7727

can you use lifetime isa to buy a flat and not a home?
Comment from : @nublessed8993

Thanks for providing such helpful knowledge Appreciated
Comment from : @j_adam9071

Good info, thanks 👍
Comment from : @ammarhussain1267

thank you so much for explaining an Isa junior account I want to open one very soon thank you
Comment from : @vloglifesubscribe

I understand I dont pay tax on the money I get out of an ISA, but do I pay any tax on the money I put in? let say I make 20k from my job as a sole-trader, and I want to invest all 20k in an ISA, do I pay tax on the 20k before I put them in an ISA?
Comment from : @Bettershutter

I hit the like but it turned black :(
Comment from : @Randomdudeyes

Is a child’s trust fund the same as a juniors isa??
Comment from : @KB-hz7iy

Great stuff!! Really informative content
Comment from : @udgrace58

How are you losing money if the cash ISA's AER is 06?
Comment from : @lukeb6341

Great video! I have a question here for you Shouldnt we just invest in employer pension thus saving at least 12 NI & 20 INCOME TAX?
Comment from : @MA-ho8nh

The worst thing l could ever do is to create Junior ISA 🙈 especially with the great reset coming, bye bye saving 😩
Comment from : @evamandri

This is my reference for ISA Thanks Sasha for this video
Comment from : @SamiEltamawy

If I want to buy Index funds/ETFs on Vanguard but at the same time invest in individual company stocks (for example on Trading 212), would I only be able to have a Stocks & Shares ISA for one of them and pay tax on the other? Also, if I buy Vanguard ETFs on Trading 212 which also offers individual stocks, does this mean that they could technically be under the same S&S ISA? Thanks!
Comment from : @abcdefg30702

Could you comment on fidelity? I’ve heard a lot of good things about it but mainly from US customers
Comment from : @value4246

Hi Sasha - thank you for such an eloquent and super informative video - I have a question to ask - I put £8 k on a cash ISA and £12 K on a Vanguard LifeStrategy 100 Fund but now I changed my mind and want to withdraw the £8k from the cash ISA and invest part of it on the S&S ISA instead - is that possible or because I paid it in already I cannot use this allowance anymore this year? Please help!
Comment from : @marianelavelasquez9696

Thanks for such an informative video I discovered your channel recently as I am interested in building an investment portfolio for myself In regard to the Cash ISA is there any benefits investing your emergency fund into it
Comment from : @joyceatim9802

This was is sooo confusing Its understood the explanation but why so many odds and ends and risksbrThe banks complicate things so there is a chance a wide minority of investors forget their targetsbrbrAnd emails that don't look important that have the hidden changesbrbrIts a crooks world it really is
Comment from : @LITTLEEXPERIMENTCHANNEL1

Amazing!!!! You explain things so well I wish we were taught this in school
Comment from : @Bladebreak3r

Hi Sasha, i opened trading212 ISA in 2020, do i need to close it to used Vanguard ISA? I don’t like to close my Trading212 ISA but i haven’t deposit there this 2021, can i have both if i don’t deposit anymore to my Trading212 ISA?
Comment from : @lmbreal6912

Great content, but I am a half brainer and got some questions Is the limit of 20k only applicable on the money that you put in yourself or that sum also includes all the interests or returns (in case of stocks and shares) that you may get? Eg if you invest 18k a year in a stocks and shares ISA and if you were to sell your stocks you would make 23k, would you be taxed on the 3k that are above the 20k limit?
Comment from : @dineesuka