ISA 2014/15 deadline question?

Vipex1

Hi guys,

I have a S&S ISA and have not used up my full £15k ISA limit for this year so have funded my broker account by £1k to use up most of the rest.

I have bought IPO shares for Neil Woodford's new Patient Capital Trust yesterday but struck me this morning that although I have put in a bid for 1000 shares and disposed of my money in this tax year 2014/15 - the actual IPO isn't until 15th April so won't it technically be counted as part of my 2015/16 tax year?

I want to be able to put £15k in throughout the course of next year to maximise my tax free ISA allowance, so it makes sense to cancel this request for shares and buy another fund or shares with the £1k to use this year's allowance up and then after 6th April I can place the order back on for the 1000 Patient Capital fund shares as I still would want them?

Thanks if anyone could shed some light on this as I have never done anything over the new tax year dates before??

Cheers!

badger09

Vipex1 wrote: »

Hi guys,

I have a S&S ISA and have not used up my full £15k ISA limit for this year so have funded my broker account by £1k to use up most of the rest.

I have bought IPO shares for Neil Woodford's new Patient Capital Trust yesterday but struck me this morning that although I have put in a bid for 1000 shares and disposed of my money in this tax year 2014/15 - the actual IPO isn't until 15th April so won't it technically be counted as part of my 2015/16 tax year?

I want to be able to put £15k in throughout the course of next year to maximise my tax free ISA allowance, so it makes sense to cancel this request for shares and buy another fund or shares with the £1k to use this year's allowance up and then after 6th April I can place the order back on for the 1000 Patient Capital fund shares as I still would want them?

Thanks if anyone could shed some light on this as I have never done anything over the new tax year dates before??

Cheers!

The only thing which is time critical is that the money has been credited to your S&S ISA account. How long it takes to be invested in a particular Fund/share/ETF etc is largely irrelevant

Vipex1

Thanks bud, glad you see it that way too as I was starting to lean that way it says 'ISA Cash invested' now under status and the 'cash value' under my account dashboard has gone up by the deposited amouny of £1k so it looks good.

Cheers!