static pension

paulgilroy31

I have 10000 sitting in pension fund which i stopped paying into 3 years ago because of lack of funds.I am now in postion to invest some cash usually 150 -250 per month i have recently been investing this in shares should i reinvest in the pension again. i am 36 years old

dunstonh

A pension is just a tax wrapper. Its not an investment.

You can buy shares inside of a pension, ISA or unwrapped. You can do the same with a range of other types of investments as well.

You pick where you want to invest, how you want to invest and the most appropriate tax wrapper to use with the investment.

EdInvestor

If you are a basic rate taxpayer and have no contribution from an employer, better to max out your investment ISA first as it's much more flexible.

paulgilroy31

how do yo open a an investment isa and what should i do regards 10k already in pension ihve recently bought shares on the aim market and from what i have read you can not put these in an isa any ideas please

Chrismaths

If you want to invest in AIM shares, you are right, you can't put them in an ISA. However, many AIM shares get capital gains tax benefits (so after 2 years, the gain is reduced by 75%) - so tax shouldn't really be a worry. You can however put AIM stocks into a pension - but you might want to consider the lack of flexibility of a pension - you can't access the money till age 55.

If you want to invest in other things, then it's hard to go past an ISA. Which ISA to pick depends upon what you want to invest in, as different providers are cheaper for different things. I think selftrade are pretty good for equities, and hargreaves lansdown are supposed to be ok for collectives.

paulgilroy31

Thanks, is there away of telling which aim shares qualfiy and is it a min of two years also if iwas to sell aim shares after two years would is the tax taken at source or is this something i would declare in sa

Chrismaths

http://www.stca.co.uk/guide_batr.htm

Basically, a non-listed (AIM stocks that aren't listed elsewhere are classified as unlisted) trading company (so not a property company or investment trust for instance) is a "Business Asset".

paulgilroy31

I would like to thank everyone for there help:T

cheerfulcat

paulgilroy31 wrote:

how do yo open a an investment isa

You can open a stocks and shares ISA with most brokers. Selftrade has one of the cheapest, though the Motley Fool one is worth looking at too. You just open the account, transfer the money in and buy the shares.

ihve recently bought shares on the aim market and from what i have read you can not put these in an isa any ideas please

Quite a few AIM shares can actually be held in an ISA; those which are also listed on other, recognised exchanges are ISA-able.

is there away of telling which aim shares qualfiy

There is no easy way, no; though some are fairly straighforward, it can get pretty complicated and HMRC are no help at all.

if iwas to sell aim shares after two years would is the tax taken at source or is this something i would declare in sa

You'd have to declare any gains ( and losses, if you want to use them ).

paulgilroy31

Thanks for that you have been very helpful , do you happen to know what i can do if anything with the 10k that i have in my pension with scottish equitable eg move ,leave it ,add to it

dunstonh

you can do all those things.