can i split my maxi isa between 2 providers - tracker and self select

grey_lady

Hello,

I have £5k in a self select maxi isa with self trade.
and i wondered, am i allowed to use the other £2k allowance for
a L & G tracker isa with a different provider by paying £100 ish a month for the rest of the year rather than a lump sum.

Thanks.

Jonbvn

You are only allowed to have one maxi ISA provider.

kedj

No, you cant open another maxi isa in the same tax year. But you should be able to invest in a tracker fund within your existing self-select isa.

dzug

Jonbvn wrote: »

You are only allowed to have one maxi ISA provider.

Not true.
You can have as many maxi ISA providers as you want - as long as each one is for a separate tax year.

grey_lady

'But you should be able to invest in a tracker fund within your existing self-select isa.'

I was thinking about this, but if im paying £100 a month to buy the tracker then they would probably charge me £10/£12 a month for the pleasure :-)
that's what they charge me for buying/selling individual shares and that's on top of the quarterly admin fee.

Thanks for all the replies.

dunstonh

If you want just average performance with a tracker and have a self select ISA then you are better off looking at investment trusts. You will still get the average performance but it will be cheaper than a tracker in unit trust form.

SeanW

With selftrade, wouldn't the better option be an ETF as you get commission free purchase?