Open JISA now or after Brexit
Discussion
An opportunity has arisen to give my two kids £3k each.
They both have active CTFs with HSBC, which I've been meaning to swap to JISA since an excellent thread on the subject a year or so ago, but haven't as yet 'got around to it'.
The opportunity to invest the £6k has motivated me to pull my finger out as collectively this means around £20k, which is a sum of money I really need to start taking seriously.
Flush with new found motivation, the looming prospect of Brexit has brought me up sharp and raised some questions:
Should I open the JISA now or wait to 31st October or after?
If I open now, should I stay with cash until 31st October or after, then invest?
Should I open with cash and invest once the GE threat is understood more, but pre Nov where the FTSE is likely to be low due to uncertainty but hardening over the medium once there is some stability (whichever way it goes)?
Finally a generic question; does the value of an existing CTF that you transfer into a newly created JISA count towards the £4,368 19/20 tax free allowance or is it deemed to have been accrued in previous years (which it has).
Thanks
They both have active CTFs with HSBC, which I've been meaning to swap to JISA since an excellent thread on the subject a year or so ago, but haven't as yet 'got around to it'.
The opportunity to invest the £6k has motivated me to pull my finger out as collectively this means around £20k, which is a sum of money I really need to start taking seriously.
Flush with new found motivation, the looming prospect of Brexit has brought me up sharp and raised some questions:
Should I open the JISA now or wait to 31st October or after?
If I open now, should I stay with cash until 31st October or after, then invest?
Should I open with cash and invest once the GE threat is understood more, but pre Nov where the FTSE is likely to be low due to uncertainty but hardening over the medium once there is some stability (whichever way it goes)?
Finally a generic question; does the value of an existing CTF that you transfer into a newly created JISA count towards the £4,368 19/20 tax free allowance or is it deemed to have been accrued in previous years (which it has).
Thanks
I initially was concerned about Brexit with regards to my investment fund. However, a couple of points:
1. FTSE100 is less UK and more global exposure (FTSE250 is more representative)
2. Brexit has bigger impact on sterling (exchange rate)
3. Global slowdown and economic conditions will have a much bigger impact on investment
Whilst I am on the sidelines in a cash fund, if you want to reduce the risk of any price movement you can either wait (6-18 months - I suspect US 2020 Elections will have a much broader impact than Brexit c.f. trade wars) or drip-feed into a JISA e.g. £250 every month for 2 years, or £500 every month for 1 year (or quarterly instead).
1. FTSE100 is less UK and more global exposure (FTSE250 is more representative)
2. Brexit has bigger impact on sterling (exchange rate)
3. Global slowdown and economic conditions will have a much bigger impact on investment
Whilst I am on the sidelines in a cash fund, if you want to reduce the risk of any price movement you can either wait (6-18 months - I suspect US 2020 Elections will have a much broader impact than Brexit c.f. trade wars) or drip-feed into a JISA e.g. £250 every month for 2 years, or £500 every month for 1 year (or quarterly instead).
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