Best Shares ISA?

ler01kjh

Hi,
I hold about £10k of shares held with td waterhouse. I am aware they have a shares ISA which I understand would protect me from paying tax on the income. Is there a best buy for a share ISA? Is TD Waterhouse's any good?
Also, can I buy and sell the ISA shares?
and is it worth selling and repurchasing the shares into the ISA wrapper?
Lots of questions I know...! Many thanks :j

Loughton_Monkey

ler01kjh wrote: »

Hi,
I hold about £10k of shares held with td waterhouse. I am aware they have a shares ISA which I understand would protect me from paying tax on the income. Is there a best buy for a share ISA? Is TD Waterhouse's any good?
Also, can I buy and sell the ISA shares?
and is it worth selling and repurchasing the shares into the ISA wrapper?
Lots of questions I know...! Many thanks :j

Seems like you don't understand ISA's.

A Stocks and Shares ISA protects you from paying Captial Gains Tax, which you don't pay, anyway, until you have made about £10,000 profit in any tax year.

I don't deal with TD Waterhouse and therefore cannot comment. Others might.

Don't know what you mean about "buy and sell the ISA shares". The ISA is a wrapper. You do not have shares in the ISA itself. You have shares in a company. And of course you can buy and sell shares within your ISA. Why else would you use one?

talexuser

avoid td waterhouse like the plauge. Their charges are exorbitant and eat up any dividends you get. They are also inefficient, taking 2 months (and several phone calls chasing) to get my money back through an isa transfer instead of the inland revenue recommended 30 days. Useless company.

MrBeans

Spend half an hour trawling the web and you'll find lots of companies offering ISAs. Hargreaves Lansdown for example http://www.h-l.co.uk/investment-services/isa/isa-variant.

In ISAs like this you can invest £10,200 each and every year. So after ten years that should be over £100,000 protected from higher rate tax on the dividends and protected from Capital Gains Tax.

In ISAs like this you can usually buy shares, investment trusts and unit trusts, so you can build up a well-spread portfolio within your ISA - assuming you're happy in principle with the risk of stock-market-based investments. You can usually buy and sell within your ISA to your heart's content. You can't transfer shares into an ISA - you have to sell them, transfer the cash in and then buy within the ISA. Some comapanies will do all this for you but make sure you understand the selling and buying charges you'll incur. You may even be able to do it yourself online.

I don't know how Hargreaves Lansdown compare pricewise and servicewise with other companies (any comments anyone?), but their website is reasonably easy to understand.

jimjames

Alliance Trust and HL both do ISAs where you can buy shares.

You can't actually buy "ISA shares" as the ISA is just a wrapper that other products are held in.

ler01kjh

thanks all for your suggestions. I'll search around and find a company which offers a good range and low / no management fees.