Chartered Accountant Explains: Investing & Taxes
In this video I go through everything that you need to know about investing and taxes.
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' - before investing, during investing (i.e being invested) and when withdrawing.
Ultimately, ISAs and pensions have great tax advantages. So if possible, make the most of these.
But, for some types of investments (e.g crypto) we can only use GIAs. Just be aware that with GIAs we may be liable to pay capital gains tax 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.
Watch the video for the full details!
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0:0 - Intro
1:05 - Summary
1:40 - ISA
3:28 - Pensions
7:00 - General Investment Accounts (GIAs)
9:49 - Why ISAs/Pensions Win
10:09 - Crypto (also GIAs)
11:52 - Outro
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⚠️ Disclaimers:
I am not a financial advisor and this video 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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