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Best place for S & S ISA for the new tax year

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Hi, I invested my first ever S&S ISA in Vanguard for the last tax year at 20k, for the new tax year I was trying to understand what my options are, am I required to open a brand new ISA if I stay with Vanguard, so I would have 2 ISA's with them or do I just top up the existing ISA with another 20k so I only have 1 ISA?

I would also like to ask if other more experienced people were to increase their investment from 20 to 40k would you stay with Vanguard or not? who else would you choose? So far I've found Vanguard easy to use and the site has seemed ok. I understand they take 0.15% in charges which might be a bit more than some other places but not sure how big an impact that is long term compared to others and if it's worth changing just for that.

Thanks
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  • dunstonhdunstonh Forumite
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     am I required to open a brand new ISA if I stay with Vanguard,

    No.

    I would also like to ask if other more experienced people were to increase their investment from 20 to 40k would you stay with Vanguard or not?

    I wouldnt have picked Vangaurd as a platform in the first place but that is because it fails to meet my objectives.   If it meets your objectives then there is no reason to change.

    So far I've found Vanguard easy to use and the site has seemed ok.

    The software they use is the same as many other platforms.    Most modern platforms are pretty good nowadays.


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • jimjamesjimjames Forumite
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    There is no reason to change ISA providers each year and it's easy to just carry on paying in to the existing one. My ISA for this year is with Vanguard too.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • AlbermarleAlbermarle Forumite
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    Just be aware that although you do not need to open a new ISA , any contributions count as new with regard to the £20K limit for each tax year.

    I understand they take 0.15% in charges which might be a bit more than some other places

    For the amounts you are talking about , that charge is pretty competitive and would not be a reason to go to another provider .
    The main reason why you might think about a new provider is if you wanted to invest in something other than the Vanguard products that are available on the platform .
  • isayhelloisayhello Forumite
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    @dunstonh just out of curiosity and to learn more, what are your objectives that Vanguard doesn't meet?
  • isayhelloisayhello Forumite
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    @Albermarle Thanks, just to clarify when you invest in following years with the same platform e.g. Vanguard does anybody ever have more than 1 ISA, or is it always just 1 ISA that you keep adding new money to?
  • dunstonhdunstonh Forumite
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    isayhello said:
    @dunstonh just out of curiosity and to learn more, what are your objectives that Vanguard doesn't meet?
    Vanguard do not offer the best funds in every area.  I also invest in a hybrid manner.  i.e. a mixture of passive and managed.   So, I need access to the whole of market and Vanguard doesnt do that.  I do have three Vanguard funds in my portfolio but that is out of 11 funds.

    Basically, the more advanced an investor you become, the more you will want whole of market access.  However, as a starting point, its fine to restrict as you are.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • isayhelloisayhello Forumite
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    @dunstonh which platform do you use? I plan to learn more and maybe try some other funds out eventually.
  • jimjamesjimjames Forumite
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    isayhello said:
    @Albermarle Thanks, just to clarify when you invest in following years with the same platform e.g. Vanguard does anybody ever have more than 1 ISA, or is it always just 1 ISA that you keep adding new money to?
    Generally just 1 ISA and keep adding money to it. This year is different for me as I want to pay in monthly and my previous ISA was expensive for that.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • dunstonhdunstonh Forumite
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    isayhello said:
    @dunstonh which platform do you use? I plan to learn more and maybe try some other funds out eventually.
    I use Standard Life Elevate for my own.   But remember that I am an IFA.  I have access to intermediary platforms.  You wouldn't have access to the intermediary market if you are going DIY.  And you wouldn't want to.  Intermediary platforms tend to have very poor DIY functionality as they assume the intermediary will be doing all the work.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • AlbermarleAlbermarle Forumite
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    isayhello said:
    @dunstonh which platform do you use? I plan to learn more and maybe try some other funds out eventually.
    If you are just looking or researching funds you can do this on many platforms without actually being a customer . A good way to see which one you like . 
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