Full ISA Guide Discussion Area

Mr.C_7

My question is. 'Is it a legal requirement to have an ISA administrator, complete with annual admin. fees, when all I have is a 15 years old one-off investment in an investment trust'? Do I lose my taxfree status on this investment if I opt for a share certificate instead? Dividends are re-invested. The fees are chipping away at the value of the investment and as I am under the capital gains threshhold, it just seems a waste.

RayWolfe

Yes it is. You can work out for yourself it is worthwhile. Probably not, but you must do the sums.

wighton

Can a cash Isa be transferred to a spouse on the death of one spouse or is it just cashed in?

GiraffeMan

wighton wrote: »

Can a cash Isa be transferred to a spouse on the death of one spouse or is it just cashed in?

It must be cashed in and from the date of death of the spouse interest is paid "net - tax deducted". All interest earned prior to this date remains "Gross".
ISA accounts are non-transferable from person to another.

mwwild

I have some shares i am thinking of transferring to an ISA. I know I have to sell and re invest in an ISA but i would like to know if the income /interest from the shares is counted against the higher rate personal allowance for OAP's as is other income from savings. I am not sure of the exact figures but if i earn over approx £27k from pensions and interest the personal allowance reduces from over £9k per annum down to £6.5k.

RayWolfe

Not it is not. ISAs are totally transparent when it comes to tax.
What you are thinking of is Age Allowance, this is not affected by ISA income.

Marandy

Hi I am considering moving to another EU country but will rent out my property in the UK. Can I still hold my Isa's and can I invest new money in an Isa? I will still be paying UK tax but will not be resident here? Thank you.

Peter_Lane

I have invested some of this year's allowance with TSB. I now wish to invest the rest. Do I have to invest it in the same account or can I use another company?

Lokolo

Peter_Lane wrote: »

I have invested some of this year's allowance with TSB. I now wish to invest the rest. Do I have to invest it in the same account or can I use another company?

Same company. You can transfer the money though to a new provider and use rest of allowance then. But you cannot put money into 2 different ISAs at once.

fullstop

Marandy wrote: »

Hi I am considering moving to another EU country but will rent out my property in the UK. Can I still hold my Isa's and can I invest new money in an Isa? I will still be paying UK tax but will not be resident here? Thank you.

You can still hold an ISA if you live outside The UK, but you can not pay any new money in, so if you can it might be worth you filling your allowance before you leave.