Cash / stocks and shares ISA

clarky_cat

Hi, I recently opened a cash ISA with Santader and have £15k in it. Could someone advise if it is possible to open a stocks and shares ISA also this financial year and move some of that £15k into that? If so, any recommendations?

Thanks

ColdIron

Open an investment ISA - Yes. Move some of the money - No
It's all or nothing I'm afraid

PS was that a fixed term or easy access cash ISA?

Archi_Bald

You can request an ISA transfer as often as you like. There might be penalties for early termination, depends on the T&Cs of your existing ISA.

If you wish to transfer any of your deposits you made in the current FY, you have to transfer all of them. http://www.hmrc.gov.uk/isa/faqs.htm#6

bowlhead99

Which broker you use depends what types of assets you want to hold in the S&S ISA.

Example
Basic holdings of UK shares with infrequent buying/selling, X-O has very low dealing fees (£5.95 a go).

Basic holdings of UK shares with the ability to hold funds as well, Charles Stanley Direct is keenly priced (£10 a trade on shares, 0.25% a year on funds)

UK and international shares with the ability to hold funds as well, TD Direct is a bit pricier at £12.50/trade for shares (unless you're on a regular monthly plan at £1.50) and 0.3%p.a. for funds.

For shares and funds with a lower percentage rate on funds, you can get the rate down to 0.2% at Youinvest but only by paying a trade fee on your fund trades as well as your share trades (£9.95 shares, £4.95 funds, £1.50 regular investments)

Once you end up with significantly higher asset values you would want a fixed fee provider instead of a percentage based one. So you can see that 'any recommendations' is too broad a question.

There are loads of threads comparing brokers and platforms on the main savings and investment board but in case someone else doesn't come along with a link here's one to start

http://monevator.com/compare-uk-cheapest-online-brokers/