Make the most of your ISA allowance when investing in stocks and shares with the Saga Share Direct Shares ISA. Trade online or by phone. The account is exclusively for UK residents over 50, and is operated for us by Equiniti Financial Services Limited.
Investing in shares using your ISA allowance with a Saga Share Direct Shares ISA means you do not pay income tax or capital gains tax on your holdings. And as this account's a flexible ISA, you can withdraw cash and pay the same amount back in during the same tax year and not have it affect your allowance.
The 2019/20 allowance is £20,000. So, if you didn’t pay into any other ISA, you could buy stocks and shares to the value of £20,000 with your Shares ISA and any returns on them would not be taxed.
Shares are high-risk investments. Share prices and the income from them can fall as well as rise and you may not get back the full amount invested. Saga Share Direct doesn’t offer advice, so if you’re unsure whether handling your own investments is suitable for you, please consult a financial adviser.
The Saga Share Direct Shares ISA works exactly like our Nominee Dealing Account, but with added tax advantages:
- Invest up to £20,000 (2019/20 tax year)
- No Capital Gains Tax on any profit made within the ISA
- 20% tax refund on income received on fixed-interest securities (such as gilts and corporate bonds)
- No loss of tax relief on remaining investments if you make a withdrawal.
Commission is simple. It's not a percentage, it's a fixed charge – and the more you trade, the more you save. Trades online cost £11.95 each and trades by phone are £17.50 each. But on the 10th trade in a calendar quarter, the charges drop to £9.75 (online) and £12.50 (phone). Plus, your new lower rate stays with you for the next calendar quarter too!
Want to know more about how the Nominee Dealing Account and the Shares ISA work? Here’s our guide.
And here’s the list of all the fees and charges for Saga Share Direct.
For more guides, terms and conditions and details of our provider, visit our Important Information page.
When you open an account with Saga Share Direct you can join Possibilities, the Saga membership programme. Members get great deals on high-street dining and at nationwide entertainment venues, along with amazing travel offers, exclusive events and more. See the latest Possibilities offers.