Can I have a Cash ISA, S&S ISA & H2B ISA?

bob_100

Hi,

I have a Cash Isa and a Help to Buy Isa. I am looking to purchase a property in the next 6 months so I believe that the LISA would not be worth it as I would not have a full year. Is that correct?

However I am interested in investing in a stocks and shares ISA, but is it possible to hold a stocks & shares ISA as well as the Cash Isa and Help to Buy ISA I hold with Nationwide?

Any help is appreciated.

masonic

Yes you can pay into one ISA of each type each tax year. In the case of Nationwide, you can split your money between a cash ISA and HTB ISA (which is also a cash ISA).

jimjames

Yes it is. However it's debatable whether a cash ISA is worthwhile when you can get better rates elsewhere and you plan on spending the money soon.

The S&S ISA doesn't need to be with Nationwide, in fact you'd be much better to go to a specialist platform rather than a bank.

bob_100

Thanks for the quick replies and confirming that I can hold 3 ISAs. I will probably keep my existing set up at nationwide with a Cash ISA / HTB Isa

Which stock & shares ISA platform is recommended. I am looking to invest in specific companies and this will be my first time using a platform?

Also would there be no point is getting a LISA, apart from if I was considering saving it for retirement?

Thank You

masonic

Investing in individual companies is not usually a wise move for newbies. Most, including many experienced investors, stick to funds.

Choosing a S&S ISA platform really depends on specific circumstances, such as how much you have to invest, how often you will trade, which investments you want to access. There is a comparison table here that might help you get started.

bob_100

masonic wrote: »

Investing in individual companies is not usually a wise move for newbies. Most, including many experienced investors, stick to funds.

Choosing a S&S ISA platform really depends on specific circumstances, such as how much you have to invest, how often you will trade, which investments you want to access. There is a comparison table here that might help you get started.

I have been tracking specific companies for the past years and so I would like to split between that and funds.

Cavendish seemed to be the cheapest but they only offer funds. Has anyone had any experience with Charles Stanley Direct?

Also as I already have a nationwide isa (cash isa & HTB isa) which details how much allowance I have for the year. If I add a stocks & shares isa to make that 3 isas, how would Nationwide know what I have invested and thus reflect that in the ISA allowance remaining?

masonic

bob_100 wrote: »

Cavendish seemed to be the cheapest but they only offer funds. Has anyone had any experience with Charles Stanley Direct?

I haven't, but several forum members use them and they are considered quite good. You may find iWeb is more suitable if investing in a mixture of funds and shares (lower charges for trading and no percentage fees).

Also as I already have a nationwide isa (cash isa & HTB isa) which details how much allowance I have for the year. If I add a stocks & shares isa to make that 3 isas, how would Nationwide know what I have invested and thus reflect that in the ISA allowance remaining?

They won't. You'll need to keep track of it.