Yes, you are able to have both a Cash and a Stocks & Shares ISA, but you have to make sure you stay within the £20,000 annual allowance across both. You can keep track of your contributions in app by updating the information under 'ISAs' in 'Account'.
Yes, you can transfer an existing Cash and/or a Stocks & Shares ISA into Silo. If you have any questions about how, please contact our support team at <a href="mailto:[email protected]" target="_blank" rel="noopener">[email protected]</a>
A General Investment Account is a normal taxable investment account which doesn’t have the same tax benefits as an ISA, however, there is no annual limit to how much you can save and invest within it.
Every UK resident has the ability to save and invest up to a maximum of £20,000 per annum in a tax free environment, otherwise known as the Individual Savings Account (ISA). You can save in both a Cash and/or a Stocks & Shares ISA, but you are only allowed to open one of each, every year.
Currently you can open a Stocks & Shares ISA or a General Investment Account (GIA) in Silo.
Please remember that we are an investment company and as is the very nature of investing, there are inherent risks. The value of your investments can both rise and fall over time and you cannot assume that past performance will repeat itself. You must be comfortable in the knowledge that you may receive less than you originally invested. The tax treatment of your investments with Silo will depend entirely on your individual circumstances and may be subject to change, so please do seek advice.
Please remember that we are an investment company and as is the very nature of investing, there are inherent risks. The value of your investments can both rise and fall over time and you cannot assume that past performance will repeat itself. You must be comfortable in the knowledge that you may receive less than you originally invested. The tax treatment of your investments with Silo will depend entirely on your individual circumstances and may be subject to change, so please do seek advice.
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