Share ISA questions

JohnnyJet

I have a share ISA account with HL and because of their high charges I was considering either moving my money or opening up another ISA with a different provider, but because of the recent rule changes I'm not quite sure of what I am able to do.

Can I open up another share ISA in the same year and also add money to it after I have already put money in the original share ISA?

Is there just one type of ISA now rather than a cash one and share one?

Can I still add to a cash ISA as well as a Share ISA in the same year?

If I decided to transfer Would it be more beneficial to convert shares to cash before I transfer to a different provider? I don't care about being out the market for a week or so.

Seeing as I have less than 10k with HL is it really worth moving?

I would be really grateful of some advice because I would like to have more index trackers and I know HL are costly and I may as well pay as little fees as I can.

Archi_Bald

JohnnyJet wrote: »

Can I open up another share ISA in the same year and also add money to it after I have already put money in the original share ISA?

if you already put money into your share ISA this year, you can't put money into another S&S ISA before the next FY. Unless you first transfer all of this year's money to a new provider.

JohnnyJet wrote: »

Is there just one type of ISA now rather than a cash one and share one?

All still the same - you can have a new cash and a new S&S ISA each year.

JohnnyJet wrote: »

Can I still add to a cash ISA as well as a Share ISA in the same year?

yes

JohnnyJet wrote: »

If I decided to transfer Would it be more beneficial to convert shares to cash before I transfer to a different provider? I don't care about being out the market for a week or so.

read this. It is an old article, still correct apart from S&S to cash trasnfer, which is now allowed.

JohnnyJet wrote: »

Seeing as I have less than 10k with HL is it really worth moving?

It depends on what you hold and how often you want to trade. Check first post in this thread: https://forums.moneysavingexpert.com/discussion/3153942, and may be use the snowman spreadsheet to figure out what is best for you.

jimjames

If you are happy with the service from HL then you may consider it worth staying. Check the threads about ii as a lot moved to them from HL and are having some issues. On £10k it won't make a massive difference. I still have around that much in an ISA with them although my main portfolio is elsewhere.

Your_Hero

Agreed with jimjames.


Any savings you make would be minimal and not worth the switch.