H-Lansdown - Bundling of PEPS/ISAs if taking income

Primrose

I currently have both Growth & Income funds in PEPs and ISAs with Hargreaves Lansdown, with all income being reinvested. If I wanted to take a small amount of income from my investments can I select whether to take it just from PEPs only, or just from ISA's only or are investments all bundled together and customers forced to take income from all investments? Presumably as there is usually no income from Growth funds, these would remain unaffected if a "bundling" process is imposed?

cheerfulcat

Hi, Primrose,

If you log in to your HL account you will see an Account Maintenance ( or something like that ) tab. Here you can choose which income to have paid out to an external account.

Primrose

Thank you but I've checked the site and can't find any facility which allows me to instruct whether I take income or not, and I still can't find any mention anywhere of whether I can take income from my PEPS but not my ISAs or vice versa. I'm trying to understand how flexible their system is, or whether, if I want to take income, H-L oblige me to take it from all my investments, rather than just some of them.

cheerfulcat

If you log in to your account, click " View your Portfolio ", then click on the ISA link on the Your Portfolio page, then click on the Account Administration tab, you'll see a list of FAQs bottom right. Top FAQ is " how do I change the way income is paid? ". Click on that and scroll down to the answer - it contains a link to a form which allows you to change how income is paid. You can only change the treatment of income for all of the income producing investments in each account, but the PEP and ISA accounts are for now at least still showing as separate options.

Note that the income option will only apply to those investments which produce an income so as you write, Growth funds will not be affected by any change you make.

HTH!

Primrose

Thank you Cheerfulcat. Have now investigated and it does look as if, at least for the moment, there is the option to take income flexibly, i.e. from some section of your portfolio whilst leaving the remainder to be reinvested.