Stocks/Shares ISA

rlfan82

Anyone give me any info on how these work?

Cash ISA's seems straight forward, but not looked at these much

Thanks

ShelleyC_2

Can't help but will be interested in replies

Lokolo

Well you invest in something and you get tax deductions such as capital gains (I think, or something like that) and you can invest upto £7200 (- cash ISA though)...

not much to it really...

rlfan82

Lokolo wrote: »

Well you invest in something and you get tax deductions such as capital gains (I think, or something like that) and you can invest upto £7200 (- cash ISA though)...

not much to it really...

any word on average profit/loss?

thought ISA, even S&S, was tax free?

Blah99

rlfan82 wrote: »

any word on average profit/loss?

thought ISA, even S&S, was tax free?

Yes, an ISA is tax-free wrapper.

The "wrapper" is the important part. An S&S ISA is not an investment in its own right, it's a tax-free wrapper around a set of investments you choose. That's why you can't ask for an "average profit/loss". You can open your own self-managed S&S ISA, deposit your £7k2 into it and purchase a basket of funds. The performance of your ISA is therefore bounded/linked to the funds or individual shares you purchase. If you'd have opened an S&S ISA 2 years ago then bought £7k of HBOS shares, your performance would have been abysmal. Conversely had you opened it and bought £7k of Xtrata shares you'd have been raking it in.

Does that make sense? Where an ISA is concerned simply think of it as a tax-free wrapper around your assets. A cash ISA is a tax free wrapper for cash assets, an S&S ISA is a tax free wrapper for shares, funds etc.

rlfan82

Thanks for that?

Can I have a S&S ISA that is centrally managed by a 3rd party? Don't know enough about it really to be dabblin in that meself

Lokolo

rlfan82 wrote: »

Thanks for that?

Can I have a S&S ISA that is centrally managed by a 3rd party? Don't know enough about it really to be dabblin in that meself

You can get advice from an IFA/Bank 'Advisor' who will charge you, but other than that no.

triplea35

On a self select stocks & shares ISA are the dividends received taxable if they are reinvested in the ISA.
I have read the article but only found some reference to tax on bonds being recoverable.
Can anyone explain
Thanks

Blah99

No, nothing is taxable once held within an S&S ISA.

Aegis

Blah99 wrote: »

No, nothing is taxable once held within an S&S ISA.

Unless taxed at source in the case of dividends. You can't reclaim that 10% at-source tax even from inside the ISA.

miserable_ol_so_n_so

rlfan82 wrote: »

Thanks for that?

Can I have a S&S ISA that is centrally managed by a 3rd party? Don't know enough about it really to be dabblin in that meself

Most big name banks and Insurance companies provide these. Look at quality weekend papaers, The Times, The Telegraph etc.......also look online for instance Virginmoney, Halifax etc etc......