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S+S ISA question - change the shares/funds I am invested in without it affecting the ISA allowance?
Hundeverboten
Posts: 7 Forumite
If I have funds that I'm invested in within an S+S ISA wrapper and I want to sell these and invest in another fund - will this affect my ISA allowance for the year.
For example if I had £15k in a FTSE 100 tracker index within an ISA wrapper that had been bought in the previous tax year. Could I change this £15k investment to a different fund - say a Global Tracker index but keep it within the ISA wrapper and still keep my £20k ISA allowance for this year.
Trying to find an answer to this online but all google comes up with is about transferring between ISA providers which is driving me crazy.
I now know that transferring existing investments not already in an ISA requires a bed and ISA which is really annoying as I thought I would be able to just place previous years investments into an ISA wrapper without it affecting this years allowance.
For example if I had £15k in a FTSE 100 tracker index within an ISA wrapper that had been bought in the previous tax year. Could I change this £15k investment to a different fund - say a Global Tracker index but keep it within the ISA wrapper and still keep my £20k ISA allowance for this year.
Trying to find an answer to this online but all google comes up with is about transferring between ISA providers which is driving me crazy.
I now know that transferring existing investments not already in an ISA requires a bed and ISA which is really annoying as I thought I would be able to just place previous years investments into an ISA wrapper without it affecting this years allowance.
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Comments
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If I have funds that I'm invested in within an S+S ISA wrapper and I want to sell these and invest in another fund - will this affect my ISA allowance for the year.No as it's not a contribution to the ISA.I now know that transferring existing investments not already in an ISA requires a bed and ISA which is really annoying as I thought I would be able to just place previous years investments into an ISA wrapper without it affecting this years allowance.That is because you would be making a contribution into the ISA in this tax year. Not a previous year.
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.0 -
NoHundeverboten said:If I have funds that I'm invested in within an S+S ISA wrapper and I want to sell these and invest in another fund - will this affect my ISA allowance for the year.For example if I had £15k in a FTSE 100 tracker index within an ISA wrapper that had been bought in the previous tax year. Could I change this £15k investment to a different fund - say a Global Tracker index but keep it within the ISA wrapper and still keep my £20k ISA allowance for this year.Yes. Once the money is in an ISA you can invest in whatever you want whenever you wantI now know that transferring existing investments not already in an ISA requires a bed and ISA which is really annoying as I thought I would be able to just place previous years investments into an ISA wrapper without it affecting this years allowance.Plainly moving anything not in an ISA into an ISA will use your allowance
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