Tell us you cash ISA questions

145791042

Replies

  • enthusiasticsaverenthusiasticsaver Forumite, Board Guide
    12.8K Posts
    Eighth Anniversary 10,000 Posts Name Dropper I've been Money Tipped!
    ✭✭✭✭✭
    You can only have one stocks and shares isa and one cash isa per tax year. Providing your existing cash isa provider will agree to transfers though there is nothing to stop you transferring it to your existing stocks and shares isa.
    Early retired in December 2017. Debt counsellor for a High Street bank in a previous life.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected]
  • colstencolsten Forumite
    17.6K Posts
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    ✭✭✭✭✭
    Why would you want to open a second S&S ISA?
  • Because the first one was done by an IFA. This one I wnt to do myself
  • colstencolsten Forumite
    17.6K Posts
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    ✭✭✭✭✭
    How are you going to create a single (virtual) portfolio from the portfolio the IFA worked out with you, and the portfolio you now want to do yourself? If you can't, why don't you tell your IFA that you are unhappy with the existing portfolio? I don't think you would do yourself any favours by running your own portfolio alongside what your IFA thinks is a balanced portfolio for your requirements.
  • jimjamesjimjames Forumite
    15.1K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    ✭✭✭✭✭
    colsten wrote: »
    Why would you want to open a second S&S ISA?

    Maybe one that offers different funds or shares that the other doesn't?

    Might not be relevant for £10k but I've got more than 1 S&S ISA
    Remember the saying: if it looks too good to be true it almost certainly is.
  • colstencolsten Forumite
    17.6K Posts
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    ✭✭✭✭✭
    jimjames wrote: »
    Maybe one that offers different funds or shares that the other doesn't?
    Can't think of any mainstream platform this would apply to, and if I was stuck with a platform that doesn't offer all the investments I am interested in, I'd probably just have my investments transferred.

    But this isn't relevant as tobago22 seems to be looking for a second ISA for different reasons.
  • jimjamesjimjames Forumite
    15.1K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    ✭✭✭✭✭
    colsten wrote: »
    Can't think of any mainstream platform this would apply to, and if I was stuck with a platform that doesn't offer all the investments I am interested in, I'd probably just have my investments transferred.

    But this isn't relevant as tobago22 seems to be looking for a second ISA for different reasons.

    Fidelity doesn't offer share dealing and nor does Cofunds I believe. But yes it doesn't seem to apply here anyway
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Back in early 2000s there were three forms of ISA - Cash, Stocks-Shares and Insurance. The Insurance element had a separate yearly allowance, though it was only 1000GBP when Cash ISAs were around 3500GBP.


    Insurance ISAs stopped accepting new money some time ago, but it seems existing plans did not convert into any other ISA. I have ended up with one of these; small amount effectively frozen and only growing by the growth fund Family Investments have put it in.


    What are the options for Insurance ISA funds today? I know switches between Cash and Stocks-Shares ISAs are allowed but I cant find any clear guidance on what I can do with funds in this old form of ISA.
  • marybmaryb Forumite
    4.4K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭✭
    I've just been looking at the article to try and work out where to move my ISA since the rate is about to go down and I was intrigued to see Martin's chart showing you could have £71,000 plus interest. Am I right in thinking you could have more than that if you had a TESSA back in pre-ISA days? When my Tessa matured I put it in a TESSA- only ISA so for that year I did, in fact, have two cash ISAs. In subsequent years I amalgamated both of them in an ISA that took transfers. Anyone who did that could be over £71,000 by now
    It doesn't matter if you are a glass half full or half empty sort of person. Keep it topped up! Cheers!
Sign In or Register to comment.
Latest MSE News and Guides