Fidelity MoneyBuilder UK Index Fund A Accumulation Shares

David42

RS2014 wrote: »

1) Can I invest in multiple funds within my ISA wrapper as long as I am within the allowance in the same tax year? (Not planning to do this but would be good to know for future reference) If this is the case I am assuming you can only use one provider a year but I could add pay into multiple funds as part of the ISA but would have to pay the management charge for each fund?

Yes. You can invest in multiple funds within the same ISA wrapper, as long as the ISA wrapper offers the funds you want. Some ISA wrappers support a wider variety of funds than others.

RS2014 wrote: »

2) Can I open up S&S ISA with a new provider every year and keep the funds in the older ISA's for as long as I want in effect potentially earning interest continously although I understand once withdrawn you lose the allowance for that year?

Yes. You can put each year's subscription with a different ISA provider and all your ISAs remain valid and independent.

RS2014 wrote: »

3) If I stayed with the same provider could I just keep investing into the same fund every year as long as it was within the allowance? Can i change funds when ever I want?

Yes. You can invest more than one year's subscription with the same ISA provider. Within the same ISA wrapper you can change funds whenever you want. Some ISA wrappers impose charges for changing between funds.

Warning: Ensure you distinguish between selling the fund with the ISA wrapper, so that the money remains inside the ISA wrapper for re-investment, and selling the ISA wrapper itself, which would lose the future tax benefit. If in doubt contact the organisation named on your statement to ensure you don't sell the ISA wrapper by mistake.

RS2014 wrote: »

4) If i have a S&S ISA and open up a new one in a new tax year can i change the fund i invest in the old ISA from a previous tax year whilst investing the current year as long as I was not payin into old fund if that makes sense?

Yes. You can continue to manage each independent ISA.

RS2014 wrote: »

4) It is ok to open a cash ISA along with the ISA I have as long as I am within the set limits in total?

Yes. In one tax year you can subscribe to both a stocks and shares ISA and a cash ISA, with two different providers. And since July 2014, the rules have been further relaxed so you can now choose how you split your £15,000 allowance between the two types of ISA.