Where should I put my money

funnymonkey

Im invested in my stocks and shares trading account £40k and maxed out my ISA allowance for both this tax year (yesterday) and last year.
I was wondering where I should put my money to get the greatest tax benefit, bearing in mind I wish to retain my stocks and shares but not a pension as Im fully loaded there too.
Thank you

eskbanker

The money in the ISA is sheltered from tax regardless of what you invest in, so 'greatest tax benefit' isn't an issue in your investment decision there.

If you're saying you've coincidentally put £40K into an unwrapped account as well as the £40K into the ISA then any dividends and gains there may be liable to taxation but the general truism of not letting the tax tail wag the investment dog applies, i.e. choose investments based on more fundamental aspects.

dunstonh

We cannot say for sure what tax wrappers would be best based on the limited information but for many people, holding up to £150k unwrapped should be possible without generating tax (through annual CGT allowance use and remaining under the dividend allowance.    

However, it would depend on whether you use your CGT allowance and dividend allowance already.     After ISA, pension and unwrapped have been used up, you could be looking at offshore bonds potentially.

funnymonkey

Im very happy with the stocks Ive invested in but In my fund and share account its not tax efficient as you say.
Im looking for somewhere to remain invested in those stocks thats not ISA or SIPP thats tax efficient.

MaxiRobriguez

funnymonkey said:

Im very happy with the stocks Ive invested in but In my fund and share account its not tax efficient as you say.
Im looking for somewhere to remain invested in those stocks thats not ISA or SIPP thats tax efficient.

That's your lot really.

If you have a significant other who's light on their pension you could contribute towards that. Similarly if they didn't have an ISA you could set one up.

Otherwise just try and keep unsheltered wrappers within a certain value such that the gains within it wouldn't trigger CGT/Dividend taxes.