Single Company ISA

Pizza_Man
Pizza_Man Posts: 24 Forumite
First Post First Anniversary Combo Breaker
in ISAs & tax-free savings
Sorry if I missed an existing thread, but I was looking for some "best buy" info when planning to set up a single company Isa. I plan to buy shares in a single company quoted on the NYSE (I have already selected the large multinational to gamble on) and simply want the most efficient ISA (lowest charges etc). I plan to buy 4000 pounds this year and possibly next, each time in one-off transactions so I would make very few transactions in a year.
I have struggled to compare and contrast financial institutions regarding this sort of single company Isa, especially when investing in a non-UK-quoted company.

Can anyone suggest which providers might suit?

Thanks!

Comments

  • Aegis
    Aegis Posts: 5,688 Forumite
    Name Dropper First Post First Anniversary
    Selftrade certainly have the facility to do this, but are you sure you want to tie up your entire tax-free investment in a single company? The risks associated with such a strategy are pretty high even if this is a large seemingly stable institution...
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Mr_Mumble
    Mr_Mumble Posts: 1,758 Forumite
    http://www.tdwaterhouse.co.uk/ offer a fee free ISA wrapper (if value of assets is >£3,600) and online trading for NYSE and 15 other major international exchanges.
    "The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.
  • Pizza_Man
    Pizza_Man Posts: 24 Forumite
    First Post First Anniversary Combo Breaker
    Both Selftrade and TD Waterhouse look viable. TD Waterhouse has an "inactive account" fee which could mount up if I only make one transaction in a year.

    Aegis - thanks for the reminder about having all eggs in one basket, you are right of course. The specifics of this case make it simpler as I already own shares in the company but want to progressively shelter them using the ISA wrapper. By moving the shares into an ISA I can trade into other shares without thinking about CGT, at the moment I have made more gain than one year's allowance so have to make this phased transition to minimise tax.

    Thanks to the MoneySavingExpert community for the kind help.
  • gt94sss2
    gt94sss2 Posts: 5,630 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    If you are thinking of joining Selftrade, they have a referral scheme where you can get upto £80 for joining them - my own details are on post 282 if you are interested.

    Otherwise, I would have suggested you look at HSBC InvestDirect who have no annual fees but they only do Maxi ISA's not mini share ones.

    Regards
    Sunil
  • spartan117
    spartan117 Posts: 3 Newbie
    Just following on from what has been said, I'm planning on trading on the NYSE and have set-up an account with OptionsXpress, my question is is it possible to use an ISA to trade on the NYSE and use it as a tax free wrapper, I understand it's possible to this on the LSE.

    If it is, what would be the best brokerage house to use, selftrade springs to mind, I'm assuming it has features like stop losses and margins as standard.
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