How much can I invest??

spykes

I have an ISA with CIS in 3 catorgories.
1 investing in UK stocks
1 with European stocks
and 1 investing in the US stocks.
Was always led to believe the most I could invest was £3600 but guy @ CIS said it was £7200. Either way I still have a bit of space to top up, and want to do this while markets are low, therefore attaining more units.
So can anyone advise wether its £3600 or the £7200

Thanks guys

Baldur

See http://www.hmrc.gov.uk/leaflets/isa-factsheet.htm

Investment limits

For cash ISAs, an individual can invest up to £3,600 a year, and can only invest with one provider in any one tax year.

For stocks and shares ISAs, an individual can invest up to £7,200 a year, and can only invest with one provider in any one tax year. If an individual wants to invest in both a cash ISA and a stocks and shares ISA in the same tax year, the separate limits for each type of ISA still apply, but the individual cannot invest more than £7,200 in total. The individual’s cash ISA and stocks and shares ISA can be with either the same or with different providers.

Example

An individual saves £1,200 in a cash ISA at the beginning of the tax year. In the same tax year they could save another £6,000 in ISAs. This could be up to another £2,400 in the same cash ISA and the remainder of the £6000 in a stocks and shares ISA, or up to £6,000 in a stocks and shares ISA.

dunstonh

Dont invest with the CIS though. Limited range of funds and not cost effective and sold under a sales process and not an advice process.

Lynn11

Hiya - I am new. I have been a saver all my life but you are experts compared to me. At the moment I am able to save £340 per month (nothing compared to all of you - fanastic) but I am happy with this. My husband's is worried about his job and I am unemployed at the moment, but hopefully start a new job soon with lesser money and less hours than before. at the moment we have 4 different cash isas but the bank tried to persuade me to put money into shares - do you think this is a good idea. Not sure if we are able to continue to save, if husband moves job but time will tell.

spykes

Thanks. What is a good isa then?

Lokolo

Lynn11 wrote: »

Hiya - I am new. I have been a saver all my life but you are experts compared to me. At the moment I am able to save £340 per month (nothing compared to all of you - fanastic) but I am happy with this. My husband's is worried about his job and I am unemployed at the moment, but hopefully start a new job soon with lesser money and less hours than before. at the moment we have 4 different cash isas but the bank tried to persuade me to put money into shares - do you think this is a good idea. Not sure if we are able to continue to save, if husband moves job but time will tell.

Its upto you but I wouldn't go to a bank for investments as the range of investments is limited to what the bank wants to have.

Warnings:
- Investments are typically around 5-10 years minimum.
- You may not get back what you put in (put in £1k, get back £900 after 10 years)

spykes

Anyway Dunstonh. I ve already put money in this yr so not in a position to move elsewhere yet or am I mistaken?

dunstonh

spykes wrote: »

Anyway Dunstonh. I ve already put money in this yr so not in a position to move elsewhere yet or am I mistaken?

You are free to transfer it and top it up.

CIS is expensive and limited so that option isnt good and doesnt fit with the aims of this webiste
DIY is the cheapest option but you have to pick the investment funds. htat involves time and research but can be worth it. CIS funds are available on the whole of market side cheaper than getting them from a CIS sales rep.
IFA is likely to be cheaper than CIS and give you whole of market access but wont be as cheap as DIY. Like DIY, IFAs can access CIS funds if they really wanted to.

spykes

I was always led to believe that once you invested with any company in any given tax yr you had to wait till the following yr to change. Has that ever been the case or has some law recently changed? So I can take my ISA elsewhere even now I m pretty much topped up??? Its a stocks and shares ISA BTW so surley its just down to having a good fund manager and hoping he chooses well and that the stocks perform. And only time will tell this.


And not sure I understand you re CIS are available on the whole market side? I understand that obviously if they have a rep he needs to be paid and therefore takes some form of commision.
Your thoghts are appreiciated

dunstonh

I was always led to believe that once you invested with any company in any given tax yr you had to wait till the following yr to change. Has that ever been the case or has some law recently changed?

No. Its been like that since day 1. As long as you transfer that years investment before you put new money into the one you are transferring to then you are fine.

Its a stocks and shares ISA BTW so surley its just down to having a good fund manager and hoping he chooses well and that the stocks perform. And only time will tell this.

If you pick a single fund you have all your eggs in that basket. There are 2000 unit trust funds out there so if you have just one, then your odds are not great. A spread helps diversify your investment areas.

And not sure I understand you re CIS are available on the whole market side? I understand that obviously if they have a rep he needs to be paid and therefore takes some form of commision.

You can access CIS funds via the sales rep (the expensive way) or via an IFA or doing it yourself using a fund supermarket (such as HL). However, you wont find many experienced investors wanting to use CIS funds.

Baldur

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