2 S&s isas

Oliver1191

Hello,

I currently contribute around 4k a year to my hl isa.

I would like to open a vanguard isa and put some money into their passive funds. Maybe a maximum of 1k over a year.

Am i allowed to do this in the same financial year if the total smount i invest is under 20k?

Thank you

ColdIron

If your £4K at HL is a Lifetime ISA (LISA) then yes you can. If it's a Stocks and Shares ISA then no you can't although you could transfer it

There are 4 types of ISA:

• cash ISAs
• stocks and shares ISAs
• innovative finance ISAs
• Lifetime ISAs

You can put money into one of each kind of ISA each tax year.
https://www.gov.uk/individual-savings-accounts

p00hsticks

Is there not an option to buy the Vanguard funds within the existing HL ISA ?

Oliver1191

Yes there is...just looking for a lower cost long-term option, whilst still taking advantage of hl's services...might plan to use vanguard next financial year.

Plus, hopefully, threir sipp will be available soon. Hurry up vanguard!

poppy10_2

Oliver1191 wrote: »

Yes there is...just looking for a lower cost long-term option, whilst still taking advantage of hl's services...might plan to use vanguard next financial year.

Buy the vanguard funds on HL for now and you can transfer them to a Vanguard ISA next tax year

masonic

poppy10 wrote: »

Buy the vanguard funds on HL for now and you can transfer them to a Vanguard ISA next tax year

This would be a good solution - if HL didn't charge exit fees. A better solution is to pay some money into a cash ISA towards the end of the tax year, then transfer the cash ISA to Vanguard after the end of the tax year.

Drp8713

On £1000 the difference in fees is £3 a year. Not really worth worrying about, let alone moving platform for.