iii fund investment

freddykrueger

Quick question - I have a cash ISA which I have put this years tax allowance into through Icesave. Also I have a shares ISA through Legal & General (although through Nationwide) and have been paying around £60 per month into this for past 2 years.

Have been looking into investing in a fund through iii - am I right in saying that I am ok to do this as long as I don't choose the ISA fund option that has the tax wrapper round it due to the fact I have already paid £60 for new tax year into L&G shares ISA?

Thanks for help.

Ian_W

Have been looking into investing in a fund through iii - am I right in saying that I am ok to do this as long as I don't choose the ISA fund option that has the tax wrapper round it due to the fact I have already paid £60 for new tax year into L&G shares ISA?

Correct. The L&G shares ISA is your current one as you've paid into it this tax year. Nothing to stop you transferring it to iii though, then you could pay in up to the max for this tax year provided you wait until the transfer completes before adding any money to the iii ISA.
Details HERE.
You might also want to check whether L&G levy any charges for outbound ISA transfers.