Stocks and Share ISA allowance
Discussion
Firstly, i'm sure this has been done to death, however I still cannot get it absolutely clear in my head. If someone could clarify, id be most grateful.
My scenario (hypothetical):
Opened my first Stocks and Shares ISA (say) at April 2018. I have invested with Company A and continue to do so until the end of this tax year to use up allowance.
From April 2019 I wish to invest in Company B.
Questions...
1. Can I keep my account open with company A for the foreseeable future, whilst opening a new ISA with company B?
2. Do I need to transfer everything from company A to the now new provider at Company B?
3. Can I drip feed monies to both funds whilst remaining under the c. £20k allowance?
4. What would happen if i invested in multiple funds across various providers, providing I didnt exceed the annual ISA allowance?
Ideally going forward, I would like to invest equally in 4 fund per year, all of course under the ISA wrapper.
Thanks,
Dan
My scenario (hypothetical):
Opened my first Stocks and Shares ISA (say) at April 2018. I have invested with Company A and continue to do so until the end of this tax year to use up allowance.
From April 2019 I wish to invest in Company B.
Questions...
1. Can I keep my account open with company A for the foreseeable future, whilst opening a new ISA with company B?
2. Do I need to transfer everything from company A to the now new provider at Company B?
3. Can I drip feed monies to both funds whilst remaining under the c. £20k allowance?
4. What would happen if i invested in multiple funds across various providers, providing I didnt exceed the annual ISA allowance?
Ideally going forward, I would like to invest equally in 4 fund per year, all of course under the ISA wrapper.
Thanks,
Dan
Edited by dan_87 on Tuesday 11th September 13:54
When you say Company do you mean ISA provider, so Fidelity, Hargreaves Lansdown etc. or do you mean a company that you are buying shares in? I assume you mean the former.
You can hold as many ISAs as you like with different providers, but you can only contribute to one per tax year.
Therefore if you have contributed to a S&S ISA with Fidelity since April 2018, you cannot open and contribute to a S&S ISA with Hargreaves Lansdown until April 2019. You don't have to transfer your old ISAs to the new provider though.
You can contribute to as many different funds as you like, as long as they are held within the same ISA in that tax year.
You can hold as many ISAs as you like with different providers, but you can only contribute to one per tax year.
Therefore if you have contributed to a S&S ISA with Fidelity since April 2018, you cannot open and contribute to a S&S ISA with Hargreaves Lansdown until April 2019. You don't have to transfer your old ISAs to the new provider though.
You can contribute to as many different funds as you like, as long as they are held within the same ISA in that tax year.
dan_87 said:
Firstly, i'm sure this has been done to death, however I still cannot get it absolutely clear in my head. If someone could clarify, id be most grateful.
My scenario (hypothetical):
Opened my first Stocks and Shares ISA (say) at April 2018. I have invested with Company A and continue to do so until the end of this tax year to use up allowance.
From April 2019 I wish to invest in Company B.
Questions...
1. Can I keep my account open with company A for the foreseeable future, whilst opening a new ISA with company B?
2. Do I need to transfer everything from company A to the now new provider at Company B?
3. Can I drip feed monies to both funds whilst remaining under the c. £20k allowance?
4. What would happen if i invested in multiple funds across various providers, providing I didnt exceed the annual ISA allowance?
Ideally going forward, I would like to invest equally in 4 fund per year, all of course under the ISA wrapper.
Thanks,
Dan
1. YesMy scenario (hypothetical):
Opened my first Stocks and Shares ISA (say) at April 2018. I have invested with Company A and continue to do so until the end of this tax year to use up allowance.
From April 2019 I wish to invest in Company B.
Questions...
1. Can I keep my account open with company A for the foreseeable future, whilst opening a new ISA with company B?
2. Do I need to transfer everything from company A to the now new provider at Company B?
3. Can I drip feed monies to both funds whilst remaining under the c. £20k allowance?
4. What would happen if i invested in multiple funds across various providers, providing I didnt exceed the annual ISA allowance?
Ideally going forward, I would like to invest equally in 4 fund per year, all of course under the ISA wrapper.
Thanks,
Dan
Edited by dan_87 on Tuesday 11th September 13:54
2. No
3. No
4. Instant death (possibly)
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