Best £50k ISA

50Twuncle

What is the best home for £50k in ISA's ?
They appear to have placed a limit on the highest paying at £15k !!
It is roughly 50:50 cash : stocks and shares

jimjames

Plenty of options but they don't need to be with same company, in fact better not to be.

Have you looked at HL.co.uk for some ideas? Where is it now?

50Twuncle

jimjames wrote: »

Plenty of options but they don't need to be with same company, in fact better not to be.

Have you looked at HL.co.uk for some ideas? Where is it now?

I am assuming that since they were taken out as cash : s&s - that this is how they must remain ?
It is currently with an investment company.....
I would prefer a guaranteed / fixed income for a change !!

dunstonh

I am assuming that since they were taken out as cash : s&s - that this is how they must remain ?

No. Cash can go to S&S and from July it can go in either direction.

I would prefer a guaranteed / fixed income for a change !!

So, not S&S then.

innovate

50Twuncle wrote: »

They appear to have placed a limit on the highest paying at £15k !!

Sorry to be dim, what do you mean by that?

xylophone

Do you mean that you wish to use the new rules (from July) which will permit you to transfer your S&S ISA into a cash ISA?

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293746/Fact_sheet_ISA_8.pdf

50Twuncle

innovate wrote: »

Sorry to be dim, what do you mean by that?

I mean that most of the higher rate paying providers appear to limit ISA saving with them to £15k

50Twuncle

xylophone wrote: »

Do you mean that you wish to use the new rules (from July) which will permit you to transfer your S&S ISA into a cash ISA?

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293746/Fact_sheet_ISA_8.pdf

Yes - if financially better for me !!
It will be about £61k for myself and a similar amount for my wife..

innovate

50Twuncle wrote: »

I mean that most of the higher rate paying providers appear to limit ISA saving with them to £15k

I think I see what you mean - you are trying to say that higher rate ISA providers typically are not allowing transfers in? The only limit I have seen with cash ISA providers is some ridiculous amount like £2m.

What sort of rate are you looking for? Why are you considering cash ISAs when you have S&S ISAs? Are you not satisfied with the return of your S&S ISAs? Who are your S&S ISAs with, and what funds/shares have you invested in?

Consumerist

50Twuncle wrote: »

What is the best home for £50k in ISA's ?
They appear to have placed a limit on the highest paying at £15k !!
It is roughly 50:50 cash : stocks and shares

From 1 July the maximum new money you will be able to contribute in the current tax year will rise from £5,940 to £15K. Cash and holdings in existing ISAs (from previous years) are not affected by this limit - you can transfer them to a new manager any time you like without affecting the amount of new money you can add.

From 1 July you will be allowed to convert S&S holdings into a cash ISA which you will then be able to put into a fixed-rate ISA. Cash ISA rates are terrible at the moment so I would think carefully before you do anything rash.

jimjames

50Twuncle wrote: »

I mean that most of the higher rate paying providers appear to limit ISA saving with them to £15k

It's quite confusing talking about ISAs in a general sense when you include S&S and cash in the same question.

There is no limit I'm aware of transfering or having more than £15k in a S&S ISA and many have a huge amount more than that without problems.

Transferring cash is different and dependent on the provider wanting to give interest on higher amounts.

Surely if you want the best income then stick to S&S ISAs?