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Paying ISA Fees
dbrookf
Posts: 658 Forumite
My ISA account fee is due - any benefit in selling some of the investments (as they offer this) or best to pay the fees separately?
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Comments
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If I have the choice between pay the fee from selling some holdings within the ISA and a current account or debit/credit card, I will choose the latter.
Because the ISA allowance is fixed and the money inside the ISA wrapper can grow without tax burdens.0 -
I keep an income version of a fund in my ISAs that will cover fees so I don't have the aggro of dealing with this.16 Panel (250W JASolar) 4kWp, facing 170 degrees, 40 degree slope, Solis Inverter. Installed 29/9/2015 - £4700 (Norfolk Solar Together Scheme); 9.6kWh US2000C Pylontech batteries + Solis Inverter installed 12/4/2022 Year target (PVGIS-CMSAF) = 3880kWh - Installer estimate 3452 kWh:Average over 6 years = 4400 :j0
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Using capital from my ISA would be at the bottom of my list and there may be transaction costs to consider. I would want to maximise my ISA so if I had the choice of paying from outside of it, I would. If this is not possible many people would use Inc(come) units from funds or dividends from shares/investment trusts to avoid selling down capital. You might also leave a portion of your annual ISA contributions as cash to cover future payments0
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I ended up paying my fees for the first time by selling some units to cover the cost, I won't be doing that again, always make sure you have some cash in the account to cover the fees.Save £12k in 2019 #154 - £14,826.60/£12kSave £12k in 2020 #128 - £4,155.62/£10k0
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Some platforms allow payment of ISA account fees from non-ISA accounts so worth checking if that's an option, rather than having to liquidate wrapped assets or keep cash within the ISA. At the time of posting this last summer, HL and II offered flexibility for such payments, whereas AJ Bell didn't:
https://forums.moneysavingexpert.com/discussion/comment/74438914#Comment_744389140 -
If I have the choice between pay the fee from selling some holdings within the ISA and a current account or debit/credit card, I will choose the latter.
Because the ISA allowance is fixed and the money inside the ISA wrapper can grow without tax burdens.
Yes - and the converse for SIPPs. You probably want to pay your SIPP fees from the tax-relieved money in the SIPP itself, rather than from your unwrapped assets.0
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