Fund (my first) S&S ISA now, or wait a few days?

scoot65

ossie48 wrote: »

Almost an identical scenario, similar amount scattered over current accounts and even premium bonds. Made the move last week with a VLS60 S&S ISA and am £485 down. When I pushed that button no one on here had a clue what would happen .

Obviously I'm in it for the long term so water off a ducks back but welcome to the world of Investment I guess

It was actually more important for me to make the move than not make it at all.

Yes, almost identical lol!

I'd procrastinated for far too long and felt that I had to make the jump into investing without wasting any more time......

I actually opened the iWeb account yesterday evening and was not aware of the currently ongoing correction.

thenewcomer

scoot65 wrote: »

Yes, almost identical lol!

I'd procrastinated for far too long and felt that I had to make the jump into investing without wasting any more time......

I actually opened the iWeb account yesterday evening and was not aware of the currently ongoing correction.

as a novice investor, what did you invest in on iweb? you bought individual shares?

ps: i am not familiar with iweb, although i did open an account with them sometime back.

scoot65

thenewcomer wrote: »

as a novice investor, what did you invest in on iweb? you bought individual shares?

ps: i am not familiar with iweb, although i did open an account with them sometime back.

I bought into the Vanguard LS60 fund

jamesperrett

scoot65 wrote: »

Given the news I woke up to this morning, should I wait a couple of days or so to see if the prices drop further?

Looks like plenty of other investors are grabbing the chance to invest at a slightly lower price as the US and Australian markets are now up slightly according to Morningstar.

lpgm

scoot65 wrote: »

well, I did it! I used the full amount to buy and now my order status is "Active - Your order is currently active and will be executed in line with our Order Handling Policy"

Just waiting for it to be executed now.......

Their usual cut-off time for funds is 11:15. So if you did your trade after this time, it probably won't happen until today. And I think with that Vanguard fund, not until 21:00 tonight.

They also take their time to tell you. I bought a fund yesterday at 10:55 and haven't heard anything yet - but this is normal. UPDATE: I logged in again at 08:15 and the trade was there.

scoot65

lpgm wrote: »

Their usual cut-off time for funds is 11:15. So if you did your trade after this time, it probably won't happen until today. And I think with that Vanguard fund, not until 21:00 tonight.

They also take their time to tell you. I bought a fund yesterday at 10:55 and haven't heard anything yet - but this is normal. UPDATE: I logged in again at 08:15 and the trade was there.

I was wondering when the trade would show in my account. I bought at 1.45pm yesterday or I'll just wait to see when it shows........

lpgm

scoot65 wrote: »

I was wondering when the trade would show in my account. I bought at 1.45pm yesterday or I'll just wait to see when it shows........

So it looks like Vanguard will get your order today, and do it tonight. And you'll see it in your account tomorrow after 8ish.

scoot65

I've also been thinking about my S&S ISA plans for the next financial year.

As well as the newly opened VLS60 S&S ISA
I have a 30k cash ISA which matures in August and I had planned to do the following....

After April 6th invest 10k into the VLS60 ISA and then in August open a HSBC GS ISA with the remaining allowance of 10k and also transfer in the 30k cash ISA, investing the 30k in the HSBC GS fund.

After reading other posts on this site, it looks like I cannot pay into the VLS and open and trade / transfer into a HSBC GS ISA in the same financial year.

Also am I right in thinking that if I use the full 2018/19 S&S ISA allowance in the VLS60 S&S ISA, I therefore cannot later in the year open a HSBC GS S&S ISA and transfer in from a cash ISA to trade as this would mean I've traded with the VLS ISA and investing the cash in HSBD is also trading?

So basically, if I want to open a HSBC GS S&S ISA, I'm going to have to wait until August, open it and invest the 2018/19 year's ISA allowance and at the same time transfer in the cash ISA and investing that amount too in the HSBC fund?

Does that count as one investment or is it two?

Many thanks.....

ValiantSon

scoot65 wrote: »

I've also been thinking about my S&S ISA plans for the next financial year.

As well as the newly opened VLS60 S&S ISA
I have a 30k cash ISA which matures in August and I had planned to do the following....

I assume that between the cash ISA and the Vanguard S&S ISA you haven't put any more in than £20,000 in this tax year. You can hold both a cash and an S&S ISA, but your total contributions must not exceed £20,000 in the tax year.

scoot65 wrote: »

After April 6th invest 10k into the VLS60 ISA and then in August open a HSBC GS ISA with the remaining allowance of 10k and also transfer in the 30k cash ISA, investing the 30k in the HSBC GS fund.

After reading other posts on this site, it looks like I cannot pay into the VLS and open and trade / transfer into a HSBC GS ISA in the same financial year.

That's correct. You can only subscribe to one S&S ISA in each financial year.

scoot65 wrote: »

Also am I right in thinking that if I use the full 2018/19 S&S ISA allowance in the VLS60 S&S ISA, I therefore cannot later in the year open a HSBC GS S&S ISA and transfer in from a cash ISA to trade as this would mean I've traded with the VLS ISA and investing the cash in HSBD is also trading?

I don't follow. You can only subscribe to one S&S ISA within any financial year. If you invest money in the Vanguard ISA after 5th April you will not be able to open another ISA with a different provider until 6th April 2019.

If you want to invest in both VLS and HSBC in the next financial year then you can do so by opening an ISA on a different platform e.g. Cavendish (who will be cheapest) and then investing the money in VLS there, as well as HSBC. You can transfer your cash ISA to this new S&S ISA.

scoot65 wrote: »

So basically, if I want to open a HSBC GS S&S ISA, I'm going to have to wait until August, open it and invest the 2018/19 year's ISA allowance and at the same time transfer in the cash ISA and investing that amount too in the HSBC fund?

Does that count as one investment or is it two?

Many thanks.....

You won't be able to open another S&S ISA in August if you have already put money into your Vanguard ISA during the 2018/19 tax year.

lpgm

scoot65 wrote: »

As well as the newly opened VLS60 S&S ISA

You're going to confuse everyone by talking about a Vanguard ISA. You've opened an IWeb ISA, and bought a Vanguard fund inside it. If you haven't subscribed the maximum £20,000, you're free to buy another fund. If you have, wait until the new tax year.