what is a Stocks and shares ISO account(ROTH IRA in US) and how does it work?
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Since you are in Scotland I’ll presume you mean ISA.
And ISA is an individual savings account.
You can save a limited amount of money each tax year and avoid having to pay tax on the interest earned. You can save the money into a cash isa where you have interest paid as if you were keeping it in a bank account , and/or a stocks and shares isa where the money is invested in the stock market for you with the usual risk that values can fall but you won’t have to pay tax on an increase in value.
They both differ from a pension type product such as a SIPP ( and IRA?) in which you can invest in a way that gets you tax relief so the government in effect adds money to the investment amount but you can’t withdraw it till a certain age and there are rules about what you do with it – some if it will be tax free some may not.
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