iWeb

DiamondLil

I have isas with IWeb; I've sold some investments and purchased others, all within the isa. Once sold, the proceeds stay as cash in the isa until I decide to buy something else. The funds never leave the isa wrapper so no allowances are lost. Been doing this for years.

slinga

Thanks both.

So just to confirm, I sell 'x' number of units, wait for notification of the monetary amount in GBP sold, then buy whatever new ISA I want again for a monetary amount.

If there is still some cash left over from the sale that stays in my account as ISA cash until I decide what I want to do with it.???

masonic

Yes @slinga exactly. You can leave uninvested cash in a S&S ISA without it losing its ISA status, although you won't receive any interest on uninvested cash.

colsten

slinga said:

Thanks both.

So just to confirm, I sell 'x' number of units, wait for notification of the monetary amount in GBP sold, then buy whatever new ISA I want again for a monetary amount.

If there is still some cash left over from the sale that stays in my account as ISA cash until I decide what I want to do with it.???

If you want to protect the ISA status of your money, you don't buy a new ISA. You buy new Funds in your existing ISA.

If any money is left after you bought your new Funds, that money is still inside the ISA wrapper (unless you remove it).

talexuser

If you sell from your ISA the cash stays in the ISA for reinvestment, if you sell from your unwrapped it stays in unwrapped. If you want the ISA cash elswhere you do an ISA transfer from the new provider and it stays tax protected.

benbay001

slinga said:

wait for notification of the monetary amount in GBP sold

Just to be safe, i would wait until the bit in red displays the ammount you intend to invest, rather than relying upon sold emails.

tel_

I've just found this existing thread by searching, so will post here:

Do iWeb charge £5 to change to a different fund?

I know they charge £5 for a 'dealing' charge each time. Does this include switching funds?

I found this a bit sketchy looking at their website.

bundoran

tel_ said:

I've just found this existing thread by searching, so will post here:

Do iWeb charge £5 to change to a different fund?

I know they charge £5 for a 'dealing' charge each time. Does this include switching funds?

I found this a bit sketchy looking at their website.

You pay £5 to sell the fund you currently own, then £5 to buy the fund you want to buy.

Eco_Miser

As mentioned above, iWeb don't have a 'switch' facility, you have to sell and then buy, at £5 a time, for a total of £10. This still compares favourably with other platforms, for long-term low activity accounts.

tel_

Thanks for clarifying Eco_Miser & bundoran.

Much appreciated.