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Mini ISA - Stocks and Shares ISA
Comments
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So, would a unit-linked scheme running for exactly five years qualify as a stocks and shares ISA or would it have to run for five years and a day?0
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should there be a charge for cancelling an account within the cooling off period? Also is there a difference between cancellation and closure?0
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KrazyFool wrote:should there be a charge for cancelling an account within the cooling off period? Also is there a difference between cancellation and closure?
If you cancel during the cancellation period, then a unit trust/OEIC fund will not levy the initial charge but you will have to suffer any loss in price if the unit price drops between purchase and cancellation.
There is a difference between cancellation and closure. Cancellation will not use your ISA allowance as it is voiding the contract. Closure will surrender the units and close the ISA but not void the contract.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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