Investing within two S&S ISA's

Murphy_

Hi All,

I'm currently investing in an S&S ISA with Vanguard direct and would like to continue my monthly investments.

I would however also like to purchase some individual stocks which are not available through Vanguard so I was looking to open a Halifax share dealing account or similar to do this. Am I correct in saying that's it's not possible to invest within two different ISA providers at the same time and so any investments outside of Vanguard would need to be outside of the ISA?

Thanks in advance.

afis1904

You can only add money to one of the same ISA within the same tax year so you'd have to stop contributing to your Vanguard ISA if you were to open a new S&S ISA and contribute to that one.

eskbanker

Correct, you can only pay new money into one ISA of each type in any tax year, so you can only fund one S&S ISA between today and 5 April 2021.  Assuming you haven't yet paid into the Vanguard one since midnight, is it perhaps worth keeping your options open by opening the Halifax one and using that for all your 2020/21 investments, i.e. the Vanguard funds and the shares?

Murphy_

Thanks both. I have a pending buy order with Vanguard today so I have missed the boat on that unfortunately. I'll certainly look into moving away from Vanguard though If I decide to buy more individual shares. For now, it's only going to be a small amount so I guess I'll just need to do it outside of the ISA wrapper and take the tax hit.

eskbanker

Murphy_ said:

I have a pending buy order with Vanguard today so I have missed the boat on that unfortunately.

But is that with money you've paid into the ISA this morning?  If not, you still have your options open....

Murphy_

eskbanker said:

Murphy_ said:

I have a pending buy order with Vanguard today so I have missed the boat on that unfortunately.

But is that with money you've paid into the ISA this morning?  If not, you still have your options open....

Yes the money left my bank account today, it was not held as cash on Vanguard unfortunately.