Is it worth moving them to an ISA?

sanch3z_77

I have two accounts with Interactive Investor:

ISA = 7k
TRADING = 22k


Is it worth me moving the holding in the trading account into the ISA? If yes is this best done and easy on II site? Once done (or not, depending on consensus) I will look to transfer my holdings to iWeb as I wont be actively trading so want a small on-going annual fee.

Following this I will be looking to add the following in the next few months, utilising both mine and my wife's allowance

Child 1 = £6k S&S ISA
Child 2 = £6k S&S ISA
£50k = of joint S&S ISA


I'm leaning towards Vanguard on these. We have pensions and some other shares and savings so I just want to choose the risk, then leave them alone...

jimjames

I would generally say that it's always worth having investments inside an ISA wrapper. It avoids any reporting for tax returns and any issues with CGT down the line

ColdIron

You can't have a joint ISA, clue's in the name Individual Savings Account
I'd echo jj's comment. ISAs are a no brainer

eskbanker

sanch3z_77 wrote: »

Following this I will be looking to add the following in the next few months, utilising both mine and my wife's allowance

Child 1 = £6k S&S ISA
Child 2 = £6k S&S ISA
£50k = of joint S&S ISA

You're probably aware of it anyway but just in case: if you want to put £6K into a junior ISA then this needs to be split across two tax years as it exceeds the annual contribution allowance. Fortunately it's a good time to be faced with that, given the three weeks until the change of year, assuming you have some of the money available now.

Likewise £50K into two adult ISAs also exceeds the annual allowance so £10K would need to be paid in by 5 April....

Tom99

sanch3z_77 wrote: »

I have two accounts with Interactive Investor:
ISA = 7k
TRADING = 22k
Is it worth me moving the holding in the trading account into the ISA?

From a saving point of view I would say no. There is unlikely to be any saving at all in CGT of dividend tax so the cost of the sell/buy to move those stocks to an ISA will not be recovered. You will also have used up more than 1yrs ISA allowance.

ColdIron

Many people didn't put shares or investment trusts into ISAs as dividends weren't taxed for basic rate taxpayers, until 2016 when they were

A stitch in time and all that ...

Mr.Saver

sanch3z_77 wrote: »

Following this I will be looking to add the following in the next few months, utilising both mine and my wife's allowance

Child 1 = £6k S&S ISA
Child 2 = £6k S&S ISA
£50k = of joint S&S ISA

There is no such thing as a joint ISA.

sanch3z_77

Sorry, I didn't mean an actual joint ISA but using both our allowances over the next 12 months (this year and next) which will total £50k.


I wont do junior ISAs as I want control on when the investment can be drawn. Kids are great but don't know what things will be like in 10 years...

I'm torn on the ISA wrapper for my shares, although I guess it's only an issue if I sell them all at once and the value is more than the CG allowance (minus purchase price).

I think I can be clever drawing the money so as not to creep into this so might not be worth the money and hassle to sell and repurchase now?

Saying that I have free trades with II that i've not used