What's a Wealthsimple Personal account?

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Andrew Goldman

Andrew Goldman has been writing for over 20 years and investing for the past 10 years. He currently writes about personal finance and investing for Wealthsimple. Andrew's past work has been published in The New York Times Magazine, Bloomberg Businessweek, New York Magazine and Wired. Television appearances include NBC's Today show as well as Fox News. Andrew holds a Bachelor of Arts (English) from the University of Texas. He and his wife Robin live in Westport, Connecticut with their two boys and a Bedlington terrier. In his spare time, he hosts “The Originals" podcast.

That's how it's like an ISA. Unlike an ISA you may be liable for UK income and capital gains on the growth, subject to your personal tax circumstances. There are also no investment limits and can be held by UK tax-payers and non-UK tax-payers alike.

What are the pros? Well, if you have already used your annual allowance of £20,000 or are a non-UK tax-payer, you can still open a personal investment account.

Similar to the ISA you can transfer any existing personal investment account to us easily and free of charge.

If you need to access your funds you can at any time with the proceeds from the sale of your investments arriving into your account within 10 days.

But take note: You have to be a UK tax payer of 18 years of age or over to have a Personal account.

If you have not opened an ISA for the current financial year, and you qualify for one, we recommend you open an ISA.

Similarly, if you are looking to save for your pension or a house purchase it would be wise to check if other accounts may be more suitable, such as a pension product or an ISA.

Last Updated 21 August 2018

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