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  • FIRST POST
    • Flyinspanner
    • By Flyinspanner 13th Jan 18, 6:41 PM
    • 1Posts
    • 0Thanks
    Flyinspanner
    New to S&S ISAs
    • #1
    • 13th Jan 18, 6:41 PM
    New to S&S ISAs 13th Jan 18 at 6:41 PM
    Hello,

    Im just about to open our first s&s ISA and will max 20k to get full 2017-18 allowance.
    Questions:-
    1. If I put in the 20k, and aim to leave it for growth, then is there a max time it can be left in there for?
    2. The fund Im looking at - I assume that X amount of units will be bought for my 20k, and in say 5 years each unit will now be worth more? - the capital growth would be tax exempt?
    3. Are there charges on cashing out the ISA?
    4. On an ACC fund, would all stock/share dividends paid out be used to just allocate extra fund units?
    5. If I went for an income fund, are the dividends just paid out once or twice a year, and would they have to be declared on tax return, or are they tax exempt being generated from within the ISA?
    6. Say this year I invest via say Cavendish, then next year can I open one with say Vanguard ?

    Sorry for the list, but want to fully understand before I hit the button - thank you in advance for your consideration and help
    Usually 6 miles up
Page 1
    • eskbanker
    • By eskbanker 13th Jan 18, 6:56 PM
    • 6,044 Posts
    • 6,048 Thanks
    eskbanker
    • #2
    • 13th Jan 18, 6:56 PM
    • #2
    • 13th Jan 18, 6:56 PM
    1. If I put in the 20k, and aim to leave it for growth, then is there a max time it can be left in there for? No

    2. The fund Im looking at - I assume that X amount of units will be bought for my 20k, and in say 5 years each unit will now be worth more? - the capital growth would be tax exempt? Yes

    3. Are there charges on cashing out the ISA? Check Ts & Cs of the platform you sign up with, some do charge and others don't

    4. On an ACC fund, would all stock/share dividends paid out be used to just allocate extra fund units? No, the value of the units increases

    5. If I went for an income fund, are the dividends just paid out once or twice a year, and would they have to be declared on tax return, or are they tax exempt being generated from within the ISA? They're tax exempt and don't need to be declared

    6. Say this year I invest via say Cavendish, then next year can I open one with say Vanguard ? Yes
    Originally posted by Flyinspanner
    See answers inline above....
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