Full ISA Guide Discussion Area

innovate

aglester wrote: »

Ideally I would like to maintain both accounts separately. Is this possible?

yes you can but you will not be able to contribute new money to more than one S&S ISA in the same financial year. Which answers the second question you had.

The obvious answer to give you ultimate flexibility is an ISA that allows funds and shares. Most of them do.

aglester

Thanks for that. So I could, next year, shift my current share holdings into a new S&S ISA and top it up, etc. Then, the year after (i.e. 2015/6) could start contributing to my Funds ISA if I so desired?

I will see whether I can find a solid deal for both funds and shares, however.

Thanks again.

innovate

Yes sure. Though you'd lock yourself out of your funds ISA for a full year.

You might find this thread of use https://forums.moneysavingexpert.com/discussion/3153942

Also, on monevator.com, there is a list of discount brokers / platforms, and there is a huge amount of discussion about platforms in various threads over on the savings & investment board.

regburns

Years ago, we bought so e HSBC FTSE Tracker ISAs. Then, HL came along and offered to split the bonus with us, a bonus we did not get as direct ISA holders. We moved our ISAs to their Vantage Service, and left them there for years.
Now, HL intend to dramatically increase their charges to us, even though we never had them do any work for us, other than hold the trackers.
I thought we could simply transfer out of the HL Vantage Service back to HSBC and just forego the bonus payments but HSBC don't provide a direct service anymore.
Surely, there must be a tracker ISA where the charges are minimal, and which I can transfer to.
Alternatively, would it make sense to wait until the new ISAs come through, sign on to one, and then transfer all our ISAs into it?
We don't do lots of buying and selling, just occasionally closing a whole ISA to get the money for big purchases.
Help!

Archi_Bald

There is a lot of discussions about alternative providers over on the Savings board.

Stretlow

Hi All.

Ok I was new to ISA's last year and didn't really read on how they work and used it as a normal savings account ( depositing and withdrawing as needed) I now realise this is mistake.

I've read the guides now and understand most of it however I only have on question.

Say for example I pay in my full cash allowance in tax year 2013/14 and it gets to April. Do I open a new one and pay into that for the year 2014/15? , if I do this, what happens to the full cash allowance for the previous year?


Sorry for the basic questions.

Stret

Lokolo

Stretlow wrote: »

Hi All.

Ok I was new to ISA's last year and didn't really read on how they work and used it as a normal savings account ( depositing and withdrawing as needed) I now realise this is mistake.

I've read the guides now and understand most of it however I only have on question.

Say for example I pay in my full cash allowance in tax year 2013/14 and it gets to April. Do I open a new one and pay into that for the year 2014/15? , if I do this, what happens to the full cash allowance for the previous year?


Sorry for the basic questions.

Stret

April 6th, not April. The tax year is April 6th - April 5th.

With your new allowance you can choose to top up an existing ISA or deposit money into a new ISA. Nothing happens to the old ISA, it stays where it is unless you move it elsewhere and it stays an ISA.

Stretlow

Lokolo wrote: »

April 6th, not April. The tax year is April 6th - April 5th.

With your new allowance you can choose to top up an existing ISA or deposit money into a new ISA. Nothing happens to the old ISA, it stays where it is unless you move it elsewhere and it stays an ISA.

Thank you for the response, what happens with the tax on the old isa balance?

Lokolo

Stretlow wrote: »

Thank you for the response, what happens with the tax on the old isa balance?

Its in an ISA, there is no tax. ISAs don't get removed after the tax year, once in an ISA it can stay in ISA, tax free, until death or a law change.

TrustyOven

I see that HSBC's lowered their interest rate on the cash ISA from 1.6% to 1.4% and changed the name of the product and imposed some extra terms (you have to make payments into the ISA at least once a year to keep the 1.4% AER (1.6% for advance and Premier)).

Otherwise seems to drop to 0.5%

Seems to be their only ISA product too? I've got their e-ISA currently so will find out later tonight if there's any change on Internet Banking.