Stocks & Shares ISAs

AKRev01

I’m in the same position!

wgt24

If anyone is currently looking at alternative S&S ISAs to put their money in, I couldn't recommend HSBC enough - I've had mine on their medium risk setting, and it's given great returns from the 3 years I've had it in there. Also amazing customer service and great detailed quarterly reports.

ColdIron

Why are you spamming the board with this recommendation, especially as you seem to have no experience with any other product

This post seems at odds with your other one where you are now expressing doubt

wgt24 wrote: »

I currently have about 13k in an HSBC S&S account, only one I've ever tried.

Returns are decent but was just curious if anyone would recommend putting it somewhere else for greater return or other benefit?

Nardge

Good afternoon,

This is my first venture into S&S ISA, though I have been active in P2P IFISAs for over half a year.

Yesterday I availed myself of one of Nutmeg's Limited Edition 1000 MSE Roboinvestment's

https://www.moneysavingexpert.com/savings/robo-funds/

My queries are twofold:

This is my one and only S&S ISA ever. If I wanted to open a more 'hands-on' S&S ISA next tax-year, I am aware that I could only fund one of the two S&S ISAs within the same tax year. As you may know, Nutmeg has a system of 'Pots', meaning that I can pump £5000 of funds into the 'Cash' S&S ISA 'Pot' element if I wanted to do so. This would see me qualify for the Terms and Conditions of the £200 Cashback Bonus, and, If I'm not mistaken, since the £5000 would technically already be 'inside' the 2018/19 S&S ISA by way of the 'Cash' S&S ISA 'Pot', so I could drip-feed it across into the 'Investment' S&S ISA 'Pot' even into the 2019/20 tax year (they'd both technically already be within the same S&S ISA), even whilst concurrently opening a second new 'hands-on' 2019/20 S&S ISA and funding that directly too?

Secondly, if there is anyone already investing with Nutmeg, and you'd like me to use your referral link,
please do get in touch by way of Private Message...

I look forward to hearing from you,

With Kind Regards

masonic

I wouldn't recommend Nutmeg - just do a forum search for 'Nutmeg' in Savings and Investments and sub-boards and I'm sure you'll find several threads outlining why. I won't go into them again here.

Stonegiant

Hi,
I have been retired 2 years and have so far been living of my redundancy payout plus a modest TFLS withdrawal and I would like some thoughts on whether an S&S ISA should form part of my investments. I have not yet started drawing money from my pension apart from taking some TFLS as a cash buffer plus 6 months living expenses. I am going to invest the rest for long term income generation but wonder if I should take £20,000 more TFLS and put it in a S&S Isa - it seems like a no brainer but on the basis of no such thing as a free lunch, are there any pitfalls?

Regards,

Stonegiant

masonic

Stonegiant wrote: »

I have been retired 2 years and have so far been living of my redundancy payout plus a modest TFLS withdrawal and I would like some thoughts on whether an S&S ISA should form part of my investments. I have not yet started drawing money from my pension apart from taking some TFLS as a cash buffer plus 6 months living expenses. I am going to invest the rest for long term income generation but wonder if I should take £20,000 more TFLS and put it in a S&S Isa - it seems like a no brainer but on the basis of no such thing as a free lunch, are there any pitfalls?

A S&S ISA should probably form some part of your investments if you expect to pay tax on any of your retirement income. There are no pitfalls to using a S&S ISA vs a general investment account.

Presumably you are continuing to pay into a pension of some type to get additional tax relief.

Stonegiant

Masonic,

Thanks for your swift reply.
I am a little confused though.

You said 'Presumably you are continuing to pay into a pension of some type to get additional tax relief.'
Actually I'm not. I did put a one-off sum of cash from my redundancy cash into my pension but as I plan to draw minimum living expenses from my Drawdown account I wont have any excess cash to put into a pension. Or am I missing a trick here? Where do I find the extra cash to get the benefit of government pension tax rules?

Regards,

Stonegiant

Vortigern

Stonegiant wrote: »

I have been retired 2 years and have so far been living of my redundancy payout plus a modest TFLS withdrawal and I would like some thoughts on whether an S&S ISA should form part of my investments.

If you are not yet receiving your state pension you may have some unused personal tax allowance. If so, you should drawdown enough pension to fully utilise that allowance. If that results in your having more income than you need, put the excess into an ISA.

When your state pension starts, it will consume part of your personal allowance. Use that allowance now, while you can. Withdrawals from pension are taxable, withdrawals from ISA are not.

Nardge

Good afternoon,

As for me, I was fortunate to be in time for one of the 1000 Nutmeg £200 Cashback links.

Thanks to Masonic's heads-up, I also took on board the discussions in the various previous Nutmeg Threads

As a result I'll have £800 invested in a General Investment Account (GIA) from tomorrow.
The Risk level is currently set to 'Cautious'.

The above choices will permit me to 'cream off' the £200 without precluding myself from being able to invest by way of ISA in a cheaper, more diverse 'Do It For Me' platform this tax year or next (or even 'DIY' platform if I chose to do so), and at minimal risk to my Nutmeg Capital.

If mistaken, or you'd advise a different Nutmeg risk-level (Cautious, Steady, Balanced, Growth, Adventurous),
I'd be very grateful for your thoughts!

With Kind Regards