What is a stocks and shares ISA?
A reader from Woking is unclear about the stocks and shares ISAs and what they can be invested in.
Andrew Norton, Halifax investments expert, tackles the problem.
John from Woking asks:
I know what as cash ISA is, but could you explain stocks and shares ISAs?
Andrew replies
A stocks and shares ISA is a flexible and tax-efficient way of investing in the stock market and offers the potential to enjoy any growth in the markets too.
Currently, you can invest up to £7,200 in a stocks and shares ISA each tax year, less any amount already saved in a cash ISA.
It's worth bearing in mind that the value of your investment can go down as well as up and you may get back less than you invested.
If you have a question for Andrew, go to the myfinances.co.uk Ask the Investments Expert section
Or for more information on your investment options go to investments at Halifax
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