Share's ISA - complete newbie

longwalks1

hbakhshi wrote: »

Leave it in as long as you like, share deal 20 times a day, its all free of tax within the wrapper.

Even if you end up with a million it would still be tax free, as long as it cam from money within the wrapper.

:T:T:T:) strrrrait to the top of my christmas card list!!!

I've just opened a S&S ISA with who i share deal with, can itransfer £10k worth of shares across int othe S&SISA, or do I need to sell some from my normal account, then buy them back into my S&S ISA?

Thanks again everyone

Lokolo

britishboy wrote: »

:T:T:T:) strrrrait to the top of my christmas card list!!!

I've just opened a S&S ISA with who i share deal with, can itransfer £10k worth of shares across int othe S&SISA, or do I need to sell some from my normal account, then buy them back into my S&S ISA?

Thanks again everyone

Sell and buy unfortuantely.

longwalks1

Ooooh forgot to ask, can you open up another S&S ISA next year, have 2 running simultaneously? So basically trade using my cureent one (2010-2011 allowance), then have a 2nd running alongside it, created with my £10k CGT allowance from 2011-2012), does it work like that?

Or would i just continue to top up my 2010-2011 ISA? So put up to a max of £10k a year into it of my own money (spent on shares), and so next year I'd have £20k of my own money to play with, +any profit made from share dealing, all tax free? Does sound a bit tooooooooo good to be true!

longwalks1

Lokolo wrote: »

Sell and buy unfortuantely.

Cheers Lokolo

Only unfortunate if I sell at a lower price than what I buy them back for I'm learning............

Are trading fee's similar? I currently pay £12.50 per trade, then it drops to £9 a trade in frequent trader in each quarter

masonic

britishboy wrote: »

Ooooh forgot to ask, can you open up another S&S ISA next year, have 2 running simultaneously? So basically trade using my cureent one (2010-2011 allowance), then have a 2nd running alongside it, created with my £10k CGT allowance from 2011-2012), does it work like that?

Or would i just continue to top up my 2010-2011 ISA? So put up to a max of £10k a year into it of my own money (spent on shares), and so next year I'd have £20k of my own money to play with, +any profit made from share dealing, all tax free? Does sound a bit tooooooooo good to be true!

It works like cash ISAs. You can have one account that you keep subscribing to, but if you have a reason to do so, you can open a separate S&S ISA somewhere else in the future. You'd still be able to trade within both ISAs, but not subscribe new money to both in the same tax year.

britishboy wrote: »

Are trading fee's similar? I currently pay £12.50 per trade, then it drops to £9 a trade in frequent trader in each quarter

The cheapest option is X-O, who charge a flat rate of £5.95, but I've not used them.

xrjtg

You might have worked this out already on another thread, but if you re-buy within an ISA then this avoids the 30 day rule, so can help a bit with your CGT planning. Bed & ISA is the name sometimes given to this (contrasted with the frowned upon Bed & Breakfast targeted by the 30 day rule).

longwalks1

Ooh forgot to ask, I meant once my £10k worth of shares are in my ISA, is trading from within the ISA the same costs per trade? 0.5% stamp duty plus buying fee of approx £10 each time?

Thanks again everyone

masonic

britishboy wrote: »

Ooh forgot to ask, I meant once my £10k worth of shares are in my ISA, is trading from within the ISA the same costs per trade? 0.5% stamp duty plus buying fee of approx £10 each time?

Yes, the same charging structure applies.

hbakhshi

I've got my S&S ISA with X-O, £5.95 a trade, flat rate.

Research and tools are non-existent but at that price, who cares, I use Sharescope for that anyway.

longwalks1

hbakhshi
So if you put in £10k worth of share a year into your S&S ISA, for 10 years and in that time quadrupled your total investment, so you had £400,000 in there in 10 years time, then you decided to take it out and retire on it, you'd pay no tax at all??