Stocks and Shares ISA
SCM Direct’s Stocks and shares ISA is a tax efficient way to invest giving you the potential for higher returns for the medium to long term (usually five years or more). You will pay no Capital Gains Tax and no Income Tax on your investments.
Typically you may invest in a mix of bonds, equities, and cash. The minimum investment in this ISA is £10,000, up to a maximum allocation of £20,000. To qualify you must be a UK resident aged 18 or over. You can transfer any existing ISA accounts to SCM Direct.
SCM Direct’s Junior Individual Saving Account (JISA) is a long-term tax-free savings account for children. This tax-free wrapper allows you to save for your child’s future, in stocks and shares, without paying any tax on the money invested within the wrapper; including the returns/growth received.
Each of your birth children, living in the UK, can have their own JISA account that you can pay into. The minimum contribution into a JISA is £1,000, up to a maximum allocation of £9,000. Money cannot be accessed until the child’s 18th birthday.
The company offers a range of actively managed investment portfolios via General Investment Accounts, ISAs, and SIPPs.
SCM Direct Reviews and Ratings
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- Specialist Stocks and Shares ISAs
- A Junior version of the ISA is available
- Transfer any existing ISA accounts to SCM Direct
- Invest in a mix of bonds, equities and cash
- No performance fees, advisor charges or exit penalties
- Quick easy online setup
- Stocks and Shares ISAs only
- Cash ISAs, Lifetime ISAs or other ISA products offered
- A large minimum investment of £10,000
- Limited product detail and information available
- A lack of online tools and supporting resource
- No online reviews or customer feedback
Website: SCM Direct