trading 212

Alex9384

Aidanmc said:

Yes, as already mentioned you can transfer funds from your Invest account to ISA account and still get cashback.

On the Invest account click on 3 dashes at top, then Manage funds, then the blue button at bottom Move funds

Thanks. I will do that then.
The ISA balance is not earning any interest though. So I think I'll transfer 20k in there, then withdraw after a week or so, leaving some 6-7k in there to invest.

gravel_2

Alex9384 said:

Aidanmc said:

Yes, as already mentioned you can transfer funds from your Invest account to ISA account and still get cashback.

On the Invest account click on 3 dashes at top, then Manage funds, then the blue button at bottom Move funds

Thanks. I will do that then.
The ISA balance is not earning any interest though. So I think I'll transfer 20k in there, then withdraw after a week or so, leaving some 6-7k in there to invest.

Not clear from your post what your intention is but note that if you intend to withdraw from the T212 ISA, it's not flexible. So if you pay in 20k that's your ISA allowance for the year regardless of what you do next.

Also you can earn 5.2% on cash in the ISA.

Aidanmc

Alex9384 said:

Aidanmc said:

Yes, as already mentioned you can transfer funds from your Invest account to ISA account and still get cashback.

On the Invest account click on 3 dashes at top, then Manage funds, then the blue button at bottom Move funds

Thanks. I will do that then.
The ISA balance is not earning any interest though. So I think I'll transfer 20k in there, then withdraw after a week or so, leaving some 6-7k in there to invest.

As mentioned you can currently earn 5.2% interest on uninvested cash, but you have to accept that your cash can be invested in QMMF's.

https://www.trading212.com/interest-on-cash

Alexland

Personally I don't like T212 as the user interface seems to be aimed at people wanting to gamble on US companies but still signed up for the experience, free share (which I sold) and cashback on contributions. The interest rate doesn't really bother me as I could always buy a money market fund elsewhere.
Having held accounts at the free trio of T212, Freetrade (only GIAs free now) and InvestEngine then the latter would be my preference. My main S&S ISA is currently with II as the cashback offer they made was multiples of the likely account charges for the first year so it's even better than free they are paying me.

GeoffTF

Alex9384 said:

I quickly checked the section 104 and it mentions "same class" rather than same security. Does that mean the same asset class? That would mean any stock, as far as I understand it.

No. It means the same class of share for the same company.

Alex9384

gravel_2 said:

Not clear from your post what your intention is but note that if you intend to withdraw from the T212 ISA, it's not flexible. So if you pay in 20k that's your ISA allowance for the year regardless of what you do next.

Also you can earn 5.2% on cash in the ISA.

How exactly does that allowance work?

Let's say you pay in 20k, then buy stocks worth of 20k which then increase in value to 22k and you sell them. Do you not pay any tax on those 2k gains then?

gravel_2

Alex9384 said:

gravel_2 said:

Not clear from your post what your intention is but note that if you intend to withdraw from the T212 ISA, it's not flexible. So if you pay in 20k that's your ISA allowance for the year regardless of what you do next.

Also you can earn 5.2% on cash in the ISA.

How exactly does that allowance work?

Let's say you pay in 20k, then buy stocks worth of 20k which then increase in value to 22k and you sell them. Do you not pay any tax on those 2k gains then?

Once money is in an ISA wrapper any interest, capital gain on dividend income is tax free. That's the point of ISAs.

Alex9384

gravel_2 said:

Once money is in an ISA wrapper any interest, capital gain on dividend income is tax free. That's the point of ISAs.

Thanks. So it doesn't matter if the interest or capital gain takes the balance above 20k.

Is there any difference between 212 invest account and 212 ISA, other than the ISA being tax free?

I mean, in terms of functionality, how buying and selling works, etc.?

Alex9384

Alexland said:

Personally I don't like T212 as the user interface seems to be aimed at people wanting to gamble on US companies...

Is there a particular problem with buying/trading US companies compared to UK companies, other than Fx risk?

Alex9384

So I deposited 20k in the 212 ISA and the £200 cashback is already in my 212 Invest account.

Now, what if I transferred that 212 ISA to InvestEngine for another bonus?