Iii

masonic

Surreyboy wrote: »

As regards the ISA, I'm pretty sure that II would be the cheapest option for me. However, I typed my details into Comparefundplatforms.co.uk and it recommended Alliance Trust Savings (with no reference to II). The fees seem higher at Alliance Trust - the only thing I can think off is that Alliance Trust might have negotiated with fund managers lower fees on certain funds than II?
But that seems unlikely - apart from HL negotiating lower fees for their 150+ , I would have thought the underlying fund ongoing charges at most platforms would be the same?
I don't know if any one has any views on this?
Cheers

Alliance Trust does have a slightly lower flat rate charge, which does not include trading credit, and I think that's where the comparison is tripping up. You'll be getting a benefit at II of free trading credit and perhaps that isn't factored in?

Surreyboy wrote: »

As regards the VAT on the SIPP, it appears that fees for ISAs are just generally more competitive for ISAs than SIPPS, so that might the reason? Or am I just being simple?

It looks like the answer to this is in the Alliance Trust tariff of charges: "* After considering guidance from HM Revenue & Customs our Investment Dealing Account and ISA account charges are no longer subject to VAT from 1 May 2014". Seems HMRC are not guiding platforms to remove the VAT charge from SIPPS for some reason.

planteria

are you guys ensuring you have the £20 quarterly charge available in your Trading Accounts, ISAs or SIPPs?

le_loup

Mine's gone in, but if it's not there they will take it from your card.


An update:
3 of my funds and the cash has gone from HL, only 1 has arrived at III and no cash. That's about 7 weeks.
This system has to change.

planteria

i have some cash in my ISA, le loup...but my Trading Account and SIPP are empty. not sure whether to load some cash in...or whether i don't need to bother yet. i'm not really supposed to make a pension contribution on top of what ive already contributed, yet.

le_loup

If there is cash in the ISA, I believe they will take it from there. My £20 went into the trading account which I don't intend to use as such.

planteria

i can't see the conv re. this le loup. theory is that it's best to have the charges taken from the SIPP.:think:

le_loup

Ah, but I don't have a SIPP.

planteria

i see, thanks ll

planteria

just been on to II...painful listening to that woman's recorded, droning voice talking about "your IZA", but once you get through they are very helpful...
if you have a SIPP they will automatically charge that, as it's the highest fee account, and then won't charge the fees on your ISA and Trading Account.
when a SIPP transfer in arrives, they will deduct the £144 from this.
but as I don't have quite as much as that in cash in my SIPP, i have transferred £144 into my SIPP. i didn't realise that they actually have a bank account allocated to each SIPP, so you contribute to your SIPP by transferring into that.

planteria

i am finding that III are a bit variable CSwise.
they had told me they were posting some paperwork, but didn't do so, and seem to handle some things promptly and others not at all, unless you remind & remind them.
how are others getting on?
HL were efficient, i'll give them that.