The most bought Stocks and Shares ISA funds in July 2023

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Archived article Tax, investments and pension rules can change over time so the information below may not be current. This article was correct at the time of publishing, however, it may no longer reflect our views on this topic.

Discover which funds HL Stocks and Shares ISA investors were buying in July 2023.

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

8 August 2023

HMRC figures released last week, once again, underline the importance of Stocks and Shares ISAs and other ways of limiting our tax burden.

We paid a record £16.7 billion in Capital Gains Tax (CGT) in the 2021/22 tax year. That’s up 15% on the year before. Of that, £7 billion worth of gains were from listed UK and non-UK shares.

And it’s only going to get harder.

On 6 April 2023, a person’s annual CGT allowance was cut from £12,300 to £6,000. The Office for Budget Responsibility has estimated CGT will raise £17.8 billion in the 2023/24 tax year. This works out as £620 per household.

In April 2024, the CGT allowance is due to fall once again to £3,000.

A Stocks and Shares ISA is one of the most tax-efficient ways to invest. You don’t have to pay UK income tax or capital gains tax on investments held in