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A question re: Cash ISA & Fixed ISA Bond
mrseyes
Posts: 304
Forumite
Can i put £3600 in cash ISA and £4000 in fix ISA BOND 2008-09? Are they both tax free?
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Comments
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It depends on the exact type of Bond ISA. Some are considered as cash ISAs and some are considered as part of a S&S ISA. If it's a S&S ISA then yes.0
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If by fixed ISA bond you mean fixed interest funds and bond funds then they can form part of the stocks and shares ISA allowance and are tax free.
If you are using the term bond incorrectly and mean fixed term deposit then no you cannot as that falls under the cash element of the ISA.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 -
If by fixed ISA bond you mean fixed interest funds and bond funds then they can form part of the stocks and shares ISA allowance and are tax free.
If you are using the term bond incorrectly and mean fixed term deposit then no you cannot as that falls under the cash element of the ISA.
I have seen this advert on Natiowide site: 1 yr fix rate e-bond 6.25% gross pa/AER and then on the side there is a box saying Tax efficient ISA. Which confused me.0 -
The 6.25% e-bond isn't a ISA0
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I have seen this advert on Natiowide site: 1 yr fix rate e-bond 6.25% gross pa/AER and then on the side there is a box saying Tax efficient ISA. Which confused me.
I don't think the two were intended to be read as relating to each other? Separate products I suspect.Can i put £3600 in cash ISA and £4000 in fix ISA BOND 2008-09?
Post #2 covers the logic. But your arithmetic is out. You only have a £7.2k allowance. So if you put £3.6k into a cash ISA ..... you would only have a balance of £3.6k left to go to a S&S ISA. If you want £4k in the latter - you have to restrict the cash ISA to £3.2kIf you want to test the depth of the water .........don't use both feet !0 -
I have seen this advert on Natiowide site: 1 yr fix rate e-bond 6.25% gross pa/AER and then on the side there is a box saying Tax efficient ISA. Which confused me.
Ahh, its not a bond but a fixed term deposit. Nwide are just calling it the wrong name (as per normal for them).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
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