We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Switching HL to Vanguard
henryandmay
Posts: 54 Forumite
Hello,
I'm currently helping my sister who is newly divorced sort her finances out.
She has a S&S Isa with H&L which shes hasn!!!8217;t used for over 2 years but she does have some shares in an individual company in there.
She is wanting to open a Vanguard Life strategy 80 via Vanguard and hold it in a S&S ISA with them but from my understanding you can only have one S&s ISA so if she switches, what happens to the shares she holds in her H&L isa. Can you transfer these or does she have to sell?
Thanks in advance.
Hen.
I'm currently helping my sister who is newly divorced sort her finances out.
She has a S&S Isa with H&L which shes hasn!!!8217;t used for over 2 years but she does have some shares in an individual company in there.
She is wanting to open a Vanguard Life strategy 80 via Vanguard and hold it in a S&S ISA with them but from my understanding you can only have one S&s ISA so if she switches, what happens to the shares she holds in her H&L isa. Can you transfer these or does she have to sell?
Thanks in advance.
Hen.
0
Comments
-
No, the rule is that one can only pay new money into one ISA of each type in any given tax year, so there's nothing stopping her from opening a new S&S ISA with Vanguard without affecting the HL one (as long as the latter only holds prior year contributions), no switch needed....henryandmay wrote: »from my understanding you can only have one S&s ISA0 -
You can only contribute new money to one investment ISA in any financial year but you can have as many ISAs as you like. She can leave her shares as they are with HL0
-
Super. All makes sense.
Thanks.0 -
whether she should tie her money up in a single share is a different questionI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
She could always consider selling the shares in HL and transferring the ISA to Vanguard?0
-
Just to correct your terminology she'll be wanting to open a Vanguard ISA that contains a vanguard fund which is this case would be Vanguard Life Strategy 80. (Rather than "opening' a VlLS80) She'll also need to decide if she is buying the income or accumulation version. If she just wants growth take the accumulation.
Also note that you can only hold Vanguard funds in a Vanguard ISA. What are the plans for the single company shares ?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards