CMC Invest announces flexible stocks and shares ISAs amid changes in UK policy

Rick Steves

In addition to a flexible ISA, the Plus plan provides members with a USD currency wallet for their general investment account (GIA), alongside the default GBP wallet that comes with all CMC Invest accounts. This means users will hold both a GBP wallet and a USD wallet. Saving customers money on FX fees.

CMC Invest has launched a new Plus plan, offering flexible stocks and shares ISAs, a USD currency wallet, and a wider investment choice all for a flat custody fee of £10 per month.

Allowing customers to build an investment portfolio that suits them, the UK investment platform’s new plan that features flexible stocks and shares ISA is targeted at customers wanting to invest up to £20,000 each tax year and shield their investment returns from tax.

Flexible ISA is something only a limited amount of investment providers offer and allows customers to take money out of their ISA and place the money back again within the same tax year without impacting their ISA allowance.

In the UK, dividend allowance and capital gains tax annual exemption will be slashed from £12,300 in the current tax year to £6,000 in 2023/24 and £3,000 in 2024/25. This makes flexible ISAs a particularly valuable proposal for customers.

Flexible stocks & shares ISA isn’t typically offered on other investment platforms

Albert Soleiman, Head of CMC Invest UK, said: “We want our customers to feel empowered to make choices that suit their own investment journey. That is why we are excited to be offering these additional features. A flexible stocks & shares ISA isn’t typically offered on other investment platforms – we are fortunate with our technology to be able to offer this to clients giving them more flexibility to invest how and when they want.”

In addition to a flexible ISA, the Plus plan provides members with a USD currency wallet for their general investment account (GIA), alongside the default GBP wallet that comes with all CMC Invest accounts. This means users will hold both a GBP wallet and a USD wallet. Saving customers money on FX fees.

CMC Invest will continue to offer a £50 welcome bonus for new customers and three months free on the Plus plan. Investors that already have an existing general investment account and/or stocks and shares ISA are able to transfer their portfolio at no cost. However, it’s worth noting that the customer’s existing provider may charge for exiting.

To access the current available benefits, the CMC Invest app is free to download and use, with no minimum spend required. Customers can already invest in over 1,500 UK and US shares, ETFs and Investment Trusts. Investments are commission-free. Money is personal and how it is invested should be too. That is why choosing the right investment provider matters.

Read this next

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

<