Share's ISA - complete newbie

jimjames

britishboy wrote: »

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??

Yep, ISAs are completely tax free.

longwalks1

Thanks again everyone

I have approx £4k worth of available shares in a works share reward scheme, if i transfer (or sell then re-buy) them into my newly opened 2010-2011 S&S ISA, will the dividends be paid into the S&S ISA too in the future?

And from Apr 5th 2011 I cant add anymore shares/funds to the ISA I opened this finiancial year, or can i add £10,200 worth of shares to it after Apr 6th this year?

masonic

britishboy wrote: »

Thanks again everyone

I have approx £4k worth of available shares in a works share reward scheme, if i transfer (or sell then re-buy) them into my newly opened 2010-2011 S&S ISA, will the dividends be paid into the S&S ISA too in the future?

The specifics will depend on your ISA manager, but income is allowed to be kept within the ISA wrapper to be reinvested.

And from Apr 5th 2011 I cant add anymore shares/funds to the ISA I opened this finiancial year, or can i add £10,200 worth of shares to it after Apr 6th this year?

You'll be able to add another £10,680 after 6th April - the limit has gone up.

soulsaver

Now come on Brit - dont be shy: Spill the beans; we may pile in with you if the story's good:)

longwalks1

soulsaver wrote: »

Now come on Brit - dont be shy: Spill the beans; we may pile in with you if the story's good:)

haha, you mean what shares? dont know yet, had a lucky run with the tabboo AIM shares but since found out I cant trade AIM from a S&S ISA unless its dual listed, but none that have made me money this year are :(

So if i was to add the limit each year and re-invest, i could drip feed from the S&S ISA as and when i wanted, to survive ?(theoretically speaking of course)

masonic

britishboy wrote: »

So if i was to add the limit each year and re-invest, i could drip feed from the S&S ISA as and when i wanted, to survive ?(theoretically speaking of course)

In theory you could, but that could put you in the position where you need to sell up at a low point in the market and miss out on a recovery. It is usually sensible to have sufficient funds in cash to cover emergencies and your everyday needs. If you pay in with one hand only to take out with the other, you can easily be trapped into buying high and selling low.

longwalks1

and can i only buy FTSE shares into an S&S ISA? does it have to be FTSE100, or can it be any FTSE company? gonna sell off some AIM shares i got and fill my ISA before apr 5th

masonic

britishboy wrote: »

and can i only buy FTSE shares into an S&S ISA? does it have to be FTSE100, or can it be any FTSE company? gonna sell off some AIM shares i got and fill my ISA before apr 5th

You are mostly limited by what your S&S ISA provider allows you to invest in. You are not necessarily restricted to the UK, let alone the FTSE100.

andyboyo

britishboy wrote: »

Thanks again everyone

I have approx £4k worth of available shares in a works share reward scheme, if i transfer (or sell then re-buy) them into my newly opened 2010-2011 S&S ISA, will the dividends be paid into the S&S ISA too in the future?

And from Apr 5th 2011 I cant add anymore shares/funds to the ISA I opened this finiancial year, or can i add £10,200 worth of shares to it after Apr 6th this year?

http://www.hmrc.gov.uk/shareschemes/sip-info-employees.rtf

The last paragraph on Page 12 may well apply to you. You may be able to transfer them in directly.