Stocks & Shares ISAs

iwant2asave

Thanks for the replies everyone.

In addition maybe if the guide did briefly mention about stamp duty it could in the same breath mention that it's not payable for ETFs...this could be useful to know for potential investors in my opinion.

eskbanker

iwant2asave said:

Thanks for the replies everyone.

In addition maybe if the guide did briefly mention about stamp duty it could in the same breath mention that it's not payable for ETFs...this could be useful to know for potential investors in my opinion.

There's always room for debate about where the balance could/should be struck but given the article's status as a 'dummy's guide', it could easily be argued that steering newbies away from individual shares is a responsible approach, in line with the start of the article:

Investing in a broad spread of investments – such as a collection of funds rather than individual shares – should significantly outperform saving and beat inflation, though there are no guarantees.

iwant2asave

eskbanker said:

iwant2asave said:

Thanks for the replies everyone.

In addition maybe if the guide did briefly mention about stamp duty it could in the same breath mention that it's not payable for ETFs...this could be useful to know for potential investors in my opinion.

There's always room for debate about where the balance could/should be struck but given the article's status as a 'dummy's guide', it could easily be argued that steering newbies away from individual shares is a responsible approach, in line with the start of the article:

Investing in a broad spread of investments – such as a collection of funds rather than individual shares – should significantly outperform saving and beat inflation, though there are no guarantees.

Yes agree it's a debatable point.  And a very brief mention of stamp duty could potentially steer newbies even more away from individual shares.

I guess my question is answered then and I can understand it might be considered too much detail to mention stamp duty.  Thanks, 

dunstonh

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).

MSE guides are simplified and aimed at the average individual.  It is not aimed at niche or unusual scenarios.   

Its a debate that was happening 25-30 years ago with Martin when he used to be pro-active on the board.   He would say that he has to keep things short, simple and snappy and keep focused on the majority.

Stamp duty is an irrelevance for most investors. 

eskbanker

iwant2asave said:
And a very brief mention of stamp duty could potentially steer newbies even more away from individual shares.

It could, but that would be entirely missing the point - the fact that there's a tiny levy on the purchase of UK shares is insignificant relative to the main reasons for newbies not to make such purchases!

iwant2asave

I find it a bit odd that many are saying that it's simplified/dummy guide etc but you can clearly see that the guide has lots of points that are in a lot more detail including what I would consider less relevant things... It seems that that argument only applies selectively.... 

wmb194

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

You'll also pay it when buying UK domiciled investment trusts.

eskbanker

iwant2asave said:

I find it a bit odd that many are saying that it's simplified/dummy guide etc but you can clearly see that the guide has lots of points that are in a lot more detail including what I would consider less relevant things... It seems that that argument only applies selectively.... 

To be fair, these things can never be 'all things to all men' (other genders are available), so there will always be different opinions about what should and shouldn't be in them!