Which investment account is right for me?

Generally, we would recommend using an ISA if you are able to. You can open multiple ISAs each year, as long as they are different types of ISA. e.g. you can open a Cash ISA and a Stocks & Shares ISA within the same tax year, but you cannot open two Stocks & Shares ISAs within the same year. In addition, the combined limit for all ISAs you own is £20,000 each year. This means you can only deposit £20,000 across all of your ISAs combined in any one year. However, you can easily transfer an existing Stocks and Shares ISA from a different provider to Wombat. To transfer your ISA to Wombat, please contact our customer support team at support@wombatinvest.com to assist you with the process. 

A GIA is a great choice if you have already opened or funded an ISA, or if you’ve reached your £20,000 ISA limit. Please note, tax treatment depends on the individual circumstances of each client and may be subject to change in future.