Invest in your future with a Charles Stanley Direct account

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These are challenging times for everyone, especially savers and investors.

Interest rates have been dismal for years, with rampant inflation slowing the growth of any nest egg or rainy-day fund you may have built up over time. In a parallel universe, you might be close to your dream retirement fund, but in this one, it’s all you can do to stop your personal wealth from eroding even further.

It’s time to take stock of your financial health and ask if your savings and investment portfolio are working for you. If not, today is when you get back on track to living your best financial life.

Charles Stanley Direct is a trusted personal wealth provider offering a series of financial products that can help safeguard and grow your wealth. The team is approachable and friendly, offering award-winning advice that you can trust at the end of a line, keyboard or in the app. It’s all delivered by real people – not jargon, no bots, no meaningless celebrity endorsements.

Through its online platform you can invest and manage your money in a simple, accessible way, putting you in the driving seat of your financial future without eating up eons of your time. How? Through these simple investment accounts. Remember, all investments involve risk, which means that unlike cash they can fall as well as rise in value.

Charles Stanley Direct

Good for: self-employed

Standing for Self-Invested Personal Pension, a SIPP is often the most tax-efficient way to provide for retirement compared with other self-managed accounts. This account allows customers to shelter up to £60,000 per tax year, depending on earnings, with no capital gains tax on profits. You won’t be taxed on share dividends or bond income either, and additional tax relief can be claimed on your contributions.

This is a great account for self-employed people or sole traders as it allows you to squirrel away funds until you reach the age of 55 under present rules, set to rise to 57 in 2028, after which you can access your pot – well ahead of the current state pension age. Please note pension rules and tax benefits depend on personal circumstance and are subject to change.

Good for: families, office workers

You’ve likely heard of an ISA, or Individual Savings Account. First introduced in 1999, these accounts are a tax-savvy way to save and are offered as Cash or a Stocks & Shares version, which Charles Stanley Direct offers. Account-holders can deposit up to £20,000 a year with zero capital gains tax on profits, and no tax to be paid on share dividends or income made from bonds. This account is useful if you’re unsure about committing your money as you can add and withdraw as you wish – just don’t go over the annual £20k allowance in any one tax year.

Plus, by putting your money into a Stocks & Shares ISA your wealth has the chance to grow faster than inflation, increasing its value, though all investments involve risk, which means that unlike cash they can fall as well as rise in value.

General Investment Account (IA)

Good for: financially confident, couples

A possible supplement to an ISA or pension, this General Investment Account is ideal for people looking for further options once you’ve maximised your tax-free allowances for the year.

Happy to lock your money in for a longer term? Perhaps you have a financial goal in mind, way off into the future (retirement, future children’s education, property)? This flexible account has no limits on how much you can tuck away, how often you do it, or when you choose to withdraw.

You’ll also have more say in what you invest in: funds, bonds, shares and more. And you can open an account with a partner, allowing you both a hand in shaping your financial security, as well as potentially spreading the tax load.

Charles Stanley Direct

Good for: parents and guardians

It’s never too early to start thinking about your child’s future, and a Junior ISA, or JISA, means you can achieve the best returns over the long term, depending on how soon you open one.

The Junior version of an ISA can shelter up to £9,000 per tax year with the account maturing once your child reaches 18. It then automatically turns into a regular ISA, allowing them to access the funds you’ve carefully saved in their name.

The main draw of a JISA is the tax exemption – no capital gains, no levies on share dividends or bond incomes – and parents, as well as extended family and friends, can make regular contributions or pay a lump sum every year. Protecting their financial future from the ravages of inflation is one of the best starts you can offer.

The value of investments can fall as well as rise. Investors may get back less than invested. Past performance is not a reliable guide to future returns. CharlesStanley is not a tax adviser. Information contained in this article is based on our understanding of current HMRC legislation. Tax reliefs are those currently applying and the levels and bases of taxation can change. Tax treatment depends on the individual circumstances of each person or entity and may be subject to change in the future. If you are in any doubt, you should seek professional tax advice. Charles Stanley & Co. Limited is authorised and regulated by the Financial Conduct Authority and is part of the Raymond James Financial, Inc. group of companies.