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Hargreaves ISA account earned dividend

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Comments

  • underground99
    underground99 Posts: 404 Forumite
    100 Posts Name Dropper
    edited 18 May 2021 at 2:01PM
    I don't want the dividend earned from this investment to be treated as this year's ISA allowance (This dividend earned from an ISA investment) 

    The allowance is how much new money you can subscribe into your ISA during a tax year. 
    Dividends earned within your ISA are not relevant for that limit, as they are not new subscriptions by you.  The dividend income showing in the 'income' part of your HL ISA account has simply been received in a cash holding area within your ISA. It is already in the ISA so you will not use up your subscription allowance if you keep it in the ISA and use it to buy new investments.
  • snowshine
    snowshine Posts: 148 Forumite
    Part of the Furniture 100 Posts
    ColdIron said:
    Why so coy? What are your Income Instructions?
    Dividends are paid into your Income Account and then your instructions will be applied
    I have not given any instructions.
    I am unable see on their mobile app any such facilities.
  • snowshine
    snowshine Posts: 148 Forumite
    Part of the Furniture 100 Posts
    edited 18 May 2021 at 3:19PM
    Hi, snowshine, on your ISA page, click the “Cash” tab. Under that you’ll see another set of tabs - go to “ income and loyalty bonus “. On the right hand side of that section you’ll see a sub-section showing the income account balance. Here you have the option of transferring the income balance to the capital account. When you’ve done the transfer ( should be instant, from memory), click the capital account tab. On the right hand side of that section you’ll see the option of withdrawing money.

    Having said all that, you don’t have to withdraw the cash if you don’t need it; dividends generated inside the ISA are not counted toward your annual contribution.
     
    I could find the tab "Income History"
    Here I could see the dividend amount
    Under the tabs "All" & "Income"
    Third tab "Loyalty Bonus" is empty.
    I don't have any other tabs on the right to transfer the dividend received to make it available to buy shares.

    I will email Hargreaves and let know how I got it going

  • cheerfulcat
    cheerfulcat Posts: 3,406 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    You need to go on the website, you can’t do this in the app. But again, do you actually need this money? If not, you can keep it in the ISA without affecting your annual contribution.
  • snowshine
    snowshine Posts: 148 Forumite
    Part of the Furniture 100 Posts
    You need to go on the website, you can’t do this in the app. But again, do you actually need this money? If not, you can keep it in the ISA without affecting your annual contribution.
    No I don't need.
    I want it to accumulate and decide on a later date as to what to do ...
    Thanks for making it clear, I will get on a desktop computer and manage it.
    Thank you
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