Stocks & Shares ISAs

eskbanker

MacLon said:
I have no idea what to invest in which is why I’m looking for a managed account so I thought there may be someone / a platform who specialise in managed investments.

'Managed investments' isn't really something to specialise in as such - it is undoubtedly recommended to diversify to minimise risk, and this is most easily achieved via the use of collective investments, such as funds, but that still leaves a pretty wide range of options - the MSE article that this thread was set up to discuss (linked from the first post) explains a bit about the difference between DIY and the 'managed/robo' platforms aimed at those who don't have the inclination, time or capability to research enough to DIY, so worth a read to see if it resonates?

Gaberdeen

MacLon said:

Very, very new to this but have about £50k I’d like to move into a managed S&S ISA with medium - high risk appetite and would love some recommendations please?
Have been researching vanguard & ii as they seem to offer what I think I’m looking for

I'm with ii and the managed ISA is a relatively new product that they offer - I haven't taken them up on it, as I'm happy to manage my own book - however I think for the completely green it's not a bad shout.

I am on an "investor" subscription so it would be free for me to allocate monies for ii to manage, if you are not already a customer, the investor plan is £11.99 a month and you get a free trade with that (worth about £3.99) - Super investor is £19.99 a month and you get 4 trades a month.

On a personal level, I'm actually very happy with the overall package ii offers for the money so if I were looking to hand over the reins of my portfolio, I'd probably give them a whirl before anyone else.

sconehead07

Hi, I'm 62 and a total noob to all this, but I was thinking of using a stocks and share ISA in lieu of a funeral plan/life cover.

Firstly, is this a good idea as an end of term policy would cost just over £30 per month for £10000 cover, that premium payable until the day I die.

 I figure £20 per month over the same 10-20-30 years or whatever I have left will be a better option. Obviously, I know its a gamble should I pass sooner, as the fixed term amount would secure me the £10000 regardless, but it's one I'm willing to take.

Secondly, I dont want the hassle of diy, I see 212 mentioned a lot, would that be a decent, cost effective choice, or are there better options available? 

masonic

sconehead07 said:

Hi, I'm 62 and a total noob to all this, but I was thinking of using a stocks and share ISA in lieu of a funeral plan/life cover.

Firstly, is this a good idea as an end of term policy would cost just over £30 per month for £10000 cover, that premium payable until the day I die.

 I figure £20 per month over the same 10-20-30 years or whatever I have left will be a better option. Obviously, I know its a gamble should I pass sooner, as the fixed term amount would secure me the £10000 regardless, but it's one I'm willing to take.

Secondly, I dont want the hassle of diy, I see 212 mentioned a lot, would that be a decent, cost effective choice, or are there better options available? 

The amount of money available when you die is just one aspect of such a plan. Another is how accessible it would be to whomever needs to make the funeral arrangements.

Trading212 is a DIY trading platform, so that wouldn't be a suitable choice if you don't want DIY.

iwant2asave

Just wondering why the main Stocks and Shares ISA guide doesn't mention Stamp Duty Tax.  I understand it's often payable even in an ISA so thought the guide should mention Stamp Duty Tax (unless I am mistaken in my understanding).

Aceace

iwant2asave said:

Just wondering why the main Stocks and Shares ISA guide doesn't mention Stamp Duty Tax.  I understand it's often payable even in an ISA so thought the guide should mention Stamp Duty Tax (unless I am mistaken in my understanding).

There's no stamp duty due on any gains within an ISA. 

eskbanker

Aceace said:

iwant2asave said:

Just wondering why the main Stocks and Shares ISA guide doesn't mention Stamp Duty Tax.  I understand it's often payable even in an ISA so thought the guide should mention Stamp Duty Tax (unless I am mistaken in my understanding).

There's no stamp duty due on any gains within an ISA. 

I think the point being made was that there's stamp duty payable on share purchases, even within an ISA:

https://www.gov.uk/tax-buy-shares

ColdIron

As is the PTM levy (Panel on Takeover and Mergers): £1.50 on UK share trades over £10,000

These are transaction taxes not taxes on income or gains

jimjames

iwant2asave said:

Just wondering why the main Stocks and Shares ISA guide doesn't mention Stamp Duty Tax.  I understand it's often payable even in an ISA so thought the guide should mention Stamp Duty Tax (unless I am mistaken in my understanding).

Only relevant if you are buying individual shares and most people won't even know about it so would only complicate things in a simple guide

eskbanker

jimjames said:

iwant2asave said:

Just wondering why the main Stocks and Shares ISA guide doesn't mention Stamp Duty Tax.  I understand it's often payable even in an ISA so thought the guide should mention Stamp Duty Tax (unless I am mistaken in my understanding).

Only relevant if you are buying individual shares and most people won't even know about it so would only complicate things in a simple guide

Point taken, but I'm not sure it would necessarily complicate it that much - there's bullet point item 5 ("Any gains are tax-free in a stocks & shares ISA") which explains, at some length, how there's no CGT on gains or income tax on dividends or interest, so a simple extra line at the end of that section to clarify that other minor taxes may still apply, rather than the wrapper literally being entirely 'tax-free' as such.