Confused over mini share isa

bigdog69

Hi,
I'm a little confused over how to go about opening a mini stocks and shares ISA.
I already have a cash ISA but have more money available that I would like to invest in shares or funds that I have selected. I understand that I have an allowance of £4000 per year to do this. What I don't understand is how I buy the shares.
Do I need to open a self-select mini shares ISA with an ISA provider?
(and if so, which are recommended)
Can I only buy UK stocks and shares into this ISA wrapper?
Are there providers that allow me to purchase shares AND funds into the same ISA?
Can I just buy shares and then place them inside my ISA wrapper?
I would be investing less than £1000 in each stock initially, what providers are good for smaller trade amouonts?
Many thanks
Al

jem16

Hargreaves & Lansdown if you are using funds.

Sleftrade if you are using shares.

Try reading this thread for lots of useful advice although it's mostly funds.

http://forums.moneysavingexpert.com/showthread.html?t=416337

cheerfulcat

bigdog69 wrote: »

Do I need to open a self-select mini shares ISA with an ISA provider?

Yes.

Can I only buy UK stocks and shares into this ISA wrapper?

No, you are not limited to UK listed shares.

Are there providers that allow me to purchase shares AND funds into the same ISA?

Most brokers allow this though they may be more expensive than fund supermarkets for collective funds.

Can I just buy shares and then place them inside my ISA wrapper?

No, you have to put the money into the ISA and then buy the shares within it.

I would be investing less than £1000 in each stock initially, what providers are good for smaller trade amouonts?

Halifax Sharebuilder is good for small amounts, at £1.50 per trade to buy. However, this is a batched service ( lots of small orders combined and executed on pre-set days ) so you will have no control over the buy price ( having said that, I don't use the Sharebuilder; it may be possible to cancel an order if you don't like the price ). This shouldn't pose a problem if you are investing for the long term.