Best broker for investing?

dharm999

ColdIron wrote: »

I see your rationale but it will only save £150 pa at most, your investment choices are more important. No reason to write off ITs in favour of ETFs on that basis alone, both will make use of the allowance anyway. I was just questioning the income focus

How do you work out £150? I pay tax at 40%, so I thought the tax on dividends for me would have been 32.5%, making it £700, I am happy to be wrong on this, as this is not something I know a lot about.

I am looking at both ITs and ETFs, so apologies if I gave the impression of choosing one over the other.

ColdIron

Yes, I had assumed basic rate, the allowance would save £650 at the higher rate. However most investments pay dividends even if their focus is not income so you would be making use of your allowance as a matter of course and an income portfolio would exceed it well before your year 10. I wouldn't let the tax tail shake the investment dog and concentrate on what's best for you in 10 years time

newlease

Simple answer iweb or Halifax.

If you are not fund heavy and don't mind splitting accounts use iweb for ISA and Youinvest for SIPP.

I have moved between iweb, Bank of Scotland which used to be cheaper than iweb which is yet cheaper than Halifax while essentially being the same, and Youinvest. I currently have SIPP, ISA and dealing all consolidated under Youinvest but they are not as competitive with some of their fees and if they raise again I will move at least my ISA back to iweb.