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