Full ISA Guide Discussion Area

margerypoops

I have a stocks and shares ISA, hoping to save towards paying off my mortgage in the future.  Have just received a letter saying there is suspension of property funds due to coronavirus.  Is my money safe during this uncertain time, I have been saving for quite some time and can not afford to loose what ive put in.

Alexland

Stocks and shares based investments are volatile and it's not unusual for illiquid property funds to be suspended when too many people are trying to withdraw at once. Provided you are in a sensible fund with a reputable asset manager it should be ok eventually however your return may be lower than expected.
The safest way to pay off a mortgage is to either make payments against the mortgage or if restricted use cash savings account(s) until you can.

docnoob

Hi everyone. Completely new here and unfortunately not very savy when it comes to all this isa stuff. My question is. Last tax year I invested with natwest invest in a medium risk stocks and shares isa. This year I also added to a high risk stocks and shares isa again with natwest invest. I also wanted to go with nutmeg to start another stocks and shares isa.  But I have read somewhere that you can only open up 1 new isa per year. Does that mean 1 different platform per year or have I stupidly used up my 1 go with this new high risk portfolio with the same platform? Or can I start up with nutmeg aswel?
Sorry if this has already been answered before.

masonic

docnoob said:

Hi everyone. Completely new here and unfortunately not very savy when it comes to all this isa stuff. My question is. Last tax year I invested with natwest invest in a medium risk stocks and shares isa. This year I also added to a high risk stocks and shares isa again with natwest invest. I also wanted to go with nutmeg to start another stocks and shares isa.  But I have read somewhere that you can only open up 1 new isa per year. Does that mean 1 different platform per year or have I stupidly used up my 1 go with this new high risk portfolio with the same platform? Or can I start up with nutmeg aswel?
Sorry if this has already been answered before.

If you've paid into a Natwest S&S ISA in this tax year, then that is your S&S ISA for 2020/21. If you want to use Nutmeg, you'd have to transfer your 2020/21 contributions to Nutmeg.

eskbanker

docnoob said:

I have read somewhere that you can only open up 1 new isa per year.

A common misconception, bolstered by imprecise language on some sites, but there is no rule restricting how many ISAs you can open.  There is, however, a rule constraining you to only paying new money into one ISA of each type per tax year.

Consumerist

And, just to make it a bit more complicated, some ISA managers allow you to split your subscriptions between different types of ISA. e.g. you can sometimes subscribe to both a fixed ISA and a variable ISA (under the same manager) during the same tax year. HMRC regards such arrangements as a single ISA.

Alex5155

I have completed the set up of the AJ Bell stocks and shares Lifetime ISA and was not required to provide any ID. I am able to deposit money and invest. Is anyone aware of any security issues with the lack of ID required?

eskbanker

Alex5155 said:

I have completed the set up of the AJ Bell stocks and shares Lifetime ISA and was not required to provide any ID. I am able to deposit money and invest. Is anyone aware of any security issues with the lack of ID required?

They'll presumably have been able to verify your ID electronically (the norm) rather than needing to see any pieces of paper (the exception).

dennis_hough

I have an ISA transfer underway and moved from the Nationwide Loyalty ISA to the Post Office online isa. The cash has left the NW account but not arrived in the PO one.  I have been ringing the PO ISA people for a week with no answer at all. Its a large sum and I am very worried about it but am unable to make contact by phone or secure message and their complaints service messaging is not working either. So 100% failure so far. Does anyone know how to contact these people at all? Surely they are working as its an offce based job not customer facing luckily for them. I cant even find a HQ phone number to use. Their Savings people are answering but they wont take ISA calls and wont take a verbal complaint or pass me to a manager etc etc.
A horrific service to me as a customer and they don't give a damn it would seem.

dennis_hough

Don't try to do a Loyalty ISA transfer from the Nationwide folks it take a month and they are not interested in talking to you about it. So much for the OFT and its recommendations of up to 15 days then?