Full ISA Guide Discussion Area

Lokolo

stphnstevey wrote: »

Can you subscribe to a cash and S&S ISA in the same tax year?

Can you subscribe to more than one
- Cash ISA in the same tax year
- S&S ISA in the same tax year

You can subscribe to one Cash ISA and one Stocks and Shares ISA each tax year.

You cannot subscribe to more than one Cash ISA in a year. You cannot subscribe to more than one Stocks and Shares ISA in a year.

Baldur

Lokolo wrote: »

You can subscribe to one Cash ISA and one Stocks and Shares ISA each tax year.

That assumes that you subscribe less than the full £7,200 to a Stocks & Shares ISA - if you do so, you can't subscribe to a Cash ISA in the same tax year.

harz99

RayWolfe wrote: »

No you don't.
That should answer your second question too.
Don't forget, you have to ask the new provider to do the transfer.

Unless of course your chosen provider will not accept your transfer to them without you also subscribing the 09/10 funds to them prior to the transfer! Which is what C&G are insisting I must do, otherwise no transfer.

bockster

eg;- timmy puts £1000 into s&s isa, buys £1000 worth of shares in sure thing co, he makes £1000 profit after selling, he then buys £1000 in another co.

has he used £1000 or £2000 of the years s&s isa allowance?

thanks in advance

RayWolfe

£1,000 ...............

bockster

ding dong!

stphnstevey

£2,000

Doesn't matter what take out (sell), only what you put in (buy)

Same as £1000 into Cash ISA, £1000 out with profits, £1000 in another ISA = £2000 allowance used

bockster

stphnstevey wrote: »

£2,000

Doesn't matter what take out (sell), only what you put in (buy)

Same as £1000 into Cash ISA, £1000 out with profits, £1000 in another ISA = £2000 allowance used

yes but,
surely putting actual cash into the shares account is different to buying shares?

i would have said you can put, lets say, £7200 into the accont and then buy and sell as much as you like after that!

Lokolo

Yes the answer is £1000 of allowance used.

Its only the cash you deposit into the account. Any profits on this used to buy more shares doesn't count towards allowance, just as interest in a Cash ISA doesn't count as allowance.

RayWolfe

bokster
Take no notice of Mr Stevey, he is a bear with a very small ... well, who knows?
As long as you don't remove the proceeds of the sale from your ISA the answer is as I've given it. And you can do it over and over again to any amount. I started S&S ISAs 15 years ago and, of course I have sold, bought sold again many times during that time. That's what all S&S ISA holders do (when they are winning!).