Starting a new job and need ISA and SIPP recommendations

loutus_flower

Hi Guys, 

I have just secured a role and I've been informed I can do it through my LTD company.  I want to set up tax free wrappers and I've would like to set up a SIPP and as well as an ISA.  I would love recommendations on Stocks and Shares ISA (I already have an  trading account), cash ISA and some SIPP recommendations.  

dunstonh

Insufficient information to go on.  There is no one-best-option that is best for everyone.  It depends on how you want to invest, what value added service you want, how much you are paying the methods and more.

kuratowski

Usually it's best to decide on the investments before you pick a particular account to hold it in.  And before you pick an investment you need to have a think about when you might need the money, and how much risk are you willing to take.

Other factors of relevance are your age, income, dependents and the amount to be invested, as well as the investment itself - these can all affect the type of account used and the choice of provider.

Also. if you have an unwrapped trading account before opening an S&S ISA, then you are doing things backwards and may have exposed yourself to unnecessary tax liabilities (depending on the amounts in question).

Don't make any instant decisions.  Instead, have a read:
https://monevator.com/category/investing/passive-investing-investing/

loutus_flower

kuratowski said:

Usually it's best to decide on the investments before you pick a particular account to hold it in.  And before you pick an investment you need to have a think about when you might need the money, and how much risk are you willing to take.

Other factors of relevance are your age, income, dependents and the amount to be invested, as well as the investment itself - these can all affect the type of account used and the choice of provider.

Also. if you have an unwrapped trading account before opening an S&S ISA, then you are doing things backwards and may have exposed yourself to unnecessary tax liabilities (depending on the amounts in question).

Don't make any instant decisions.  Instead, have a read:
https://monevator.com/category/investing/passive-investing-investing/

Thank you so much.   That's an excellent starting point.  Left you an upvote. 

tebbins

Being nice costs nothing, but some in this forum are so tight they won't even do that 😆

More information is needed about your situation though, and there are plenty of threads you could research in this part of the forum in which people have asked similar questions.

Albermarle

I would split off the cash ISA question as this is quite different from picking a S&S ISA or a SIPP .

Firstly you have to question if a cash ISA is necessary, or would you be better off with a non ISA savings account .

Nowadays you do not pay tax on the first £1000 of savings interest if you are a basic rate taxpayer, although I am not sure how that applies to a company Director .
Otherwise normally you should look at the comparison tables as to who is currently paying the best rate of interest.
Compare The Best UK Savings Accounts | moneyfacts.co.uk

Regarding the investment accounts you could have a look here.

Pensions & Investing - MoneySavingExpert

loutus_flower

Albermarle said:

I would split off the cash ISA question as this is quite different from picking a S&S ISA or a SIPP .

Firstly you have to question if a cash ISA is necessary, or would you be better off with a non ISA savings account .

Nowadays you do not pay tax on the first £1000 of savings interest if you are a basic rate taxpayer, although I am not sure how that applies to a company Director .
Otherwise normally you should look at the comparison tables as to who is currently paying the best rate of interest.
Compare The Best UK Savings Accounts | moneyfacts.co.uk

Regarding the investment accounts you could have a look here.

Pensions & Investing - MoneySavingExpert

 I agree about the ISA questions. I'm actually going through Which right now.    It's working out to be a good jumping off point.  I can ask more pertinent questions at a later date

loutus_flower

tebbins said:

Being nice costs nothing, but some in this forum are so tight they won't even do that 😆

More information is needed about your situation though, and there are plenty of threads you could research in this part of the forum in which people have asked similar questions.

  Being nice is absolutely free    I decided to take out a WHICH subscription  and I any questions will be asked based on the conclusions I've done on my own research.  That way when I ask questions here they will give enough detail so the very knowledgable people here can help me.  That only seems fair to be honest!

Murphy_The_Cat

tebbins said:

Murphy_The_Cat said:

loutus_flower said:

Murphy_The_Cat said:

loutus_flower said:

Murphy_The_Cat said:

Would you like the 6 numbers for Saturdays Lotto draw as well ?

Noone can recommend S&S Isa's, cash ISA's or particular SIPPs, but we are free to discuss the items that you've already discovered yourself.

was that tone necessary! No it wasn't!  So wind your neck in.

I deleted my post as I realised that even though your are potentially the 10000th person who has posted something similar on here. Its the first time that you've done so.

So here's the nicey, nicey, touchy feely, don't want to upset the precious feelings of little petal drops reply that you probably don't want to hear and almost definitely will ignore.

Do your research on what you feel will best suit your circumstances. Then, when you've done so, come back here and offer up your findings. Then ask people what they think of what you have found. 

 I appreciate you  having a moment of reflection to see that you comment was unwarranted.  I have healthy boundaries that have nothing to do with  'nicey, nicey, touchy feely, don't want to upset the precious feelings of little petal drops reply that you probably don't want to hear'.  So stop  with the micro aggression.   I agree further research needs to be done so I can draw on the considerable experience of individuals in this space.  So I will take that nugget of practical guidance and run with it.  Good day. 

Whatever.

I spend a goodly amount of each day dealing with idle feckless people asking stupid questions that they are to lazy/ignorant/supid to work out for themselves. Which can be handy sometimes when I'm on an online forum.

I look forward to seeing the fruits of your labour regarding investment research.

You are choosing to be here.

You are absolutely correct. I follow the 99/100/25 rule, which has proven to be absolutely bob on for over a decade, but on this occassion I missed that vital component. C'est la vie and all that.