Hargreaves Lansdown Account Types

Hargreaves Lansdown (HL) offers a variety of account types to cater to different investment needs. Here are the main types of accounts available:

• Stocks and Shares ISA:
• Annual Allowance: £20,000 (2023/2024 tax year).
• Tax Benefits: No capital gains tax and no further tax on income from investments.
• Access: Withdraw money at any time.
• Lifetime ISA (LISA):
• Annual Allowance: Up to £4,000.
• Government Bonus: 25% bonus from the government, up to £1,000 per tax year.
• Withdrawal Conditions: Withdraw for first home purchase or from age 60, with a penalty for early withdrawals.
• Junior ISA (JISA):
• Annual Allowance: £9,000 per child per tax year.
• Management: Opened by a parent or guardian; withdrawals can be made after age 18.
• General Investment Account (GIA):
• Minimum Deposit: £1.
• Investment Options: Unlimited investment without tax benefits.
• Fees: No account charge for shares; maximum dealing fee of £11.95 per UK deal.
• Self-Invested Personal Pension (SIPP):
• Tax Relief: Up to 45% on contributions.
• Investment Choice: Wide range of investment options.

Hargreaves Lansdown Broker Account Opening Process

Opening an account with Hargreaves Lansdown is straightforward and can be completed online in about 10 minutes. Heres how to do it:

• Eligibility:
• Must be over 18 and a UK resident for tax purposes.
• Comfortable making long-term investment decisions.
• Required Information:
• National Insurance number.
• Debit card details for initial funding (minimum £1).
• Bank details for setting up direct debit (minimum £25/month).
• Steps to Open an Account:
• Visit the Hargreaves Lansdown website.
• Choose the type of account you wish to open (e.g., Stocks and Shares ISA, GIA).
• Complete the online application form with the required information.
• Fund your account with a minimum deposit or set up a direct debit.
• Account Management:
• Once the account is open, you can manage your investments online or via the HL app.
• Access to a wide range of investment options, including funds, shares, and ETFs.

By following these steps, you can efficiently set up your investment account with Hargreaves Lansdown and start your investment journey.