You can use your UK income tax-free annual allowance of PS20,000 to invest in a stocks and shares ISA. This type of account allows you to invest in funds, investment trusts and shares (and a few other types of investments). It’s important to remember that the value of investments can fall as well as rise so you may get back less than you invest.More info :theinvestorscentre.co.uk
UK’s Top Stocks and Shares ISA Options for 2024: A Comprehensive Guide
Whether you want to choose your own investments in a DIY stocks and shares ISA or buy ready-made portfolios of funds through an OEIC, Unit Trust or Investment Trust, there are three things to consider when choosing the right provider: control, choice and cost. A DIY approach gives you the greatest amount of control over your portfolio – for example, you can choose what shares or bonds to hold and when to sell them. This comes with a greater level of risk, however.
If you don’t want to choose your own investments in a stocks and shares ISA you can open an ISA managed account (ISA MUA) where a professional does the work for you. These types of managed accounts are a good option if you have limited experience or time to research the market. They can also be a good way to spread your investment risk by holding a range of different assets, including equities, fixed income and property.
Fees for buying and selling investments, as well as platform and management charges, can add up. Make sure you compare these costs to ensure that you’re getting a competitive deal.