Investment Help & Info

[c_206]

Happy sunday and lockdown people,

Seeing as a lot of people are sorting out their investments during this time i thought id do the same or at least start

Basically im self employed and have a few old ISAs but havent done anything during this tax year or hold any shares etc.. but now looking to recifity that

Looking at the following:

1) Cash ISA (is there currently any point in this with low rates)

2) Stocks and shares ISA with either someone like HL or vangaurd etc. But would it be best to go in a fund for this rather than individual shares for ease of use

3) Buying seperate stocks with someone like Halifax share dealing or Etoro or Trading 212 (or anyone else)

4) Pension or SIPP - simply because of the tax relief aspects and can invest a low amount like 1k for time being for my future

5) Any other investment portfolio

What would be best few things to do and where should i concentrate first as it is a bit of a minefield out there espcially for a first timer

thanks in advance

[anonymous-user]

1) Cash ISA (is there currently any point in this with low rates) Correct - it's a waste of valuable tax relief at 0% interest.

2) Stocks and shares ISA with either someone like HL or vangaurd etc. But would it be best to go in a fund for this rather than individual shares for ease of use. Yes, many successful amateurs use funds to suppress investment risk. i.e. Built-in diversification.

3) Buying separate stocks with someone like Halifax share dealing or Etoro or Trading 212 (or anyone else). You could. I don't.

4) Pension or SIPP - simply because of the tax relief aspects and can invest a low amount like 1k for time being for my future. SIPP tax relief probably more valuable than ISA tax relief. Ultimately depends on your tax rates now and in the future.

5) Any other investment portfolio. Use the tax wrappers first. SIPP and ISA.

The rockin rules,

• Keep it simple.
• Keep the costs (annual charges) as low as you sensibly can.
• Invest, don't trade/gamble.
• Use the tax wrappers of ISA and SIPP. The bigger your returns the more the tax relief is worth! Good places for equity (share) funds.

[cloud_dog]

c_206 said:

Happy sunday and lockdown people,

Seeing as a lot of people are sorting out their investments during this time i thought id do the same or at least start

Basically im self employed and have a few old ISAs but havent done anything during this tax year or hold any shares etc.. but now looking to recifity that

Looking at the following:

1) Cash ISA (is there currently any point in this with low rates)

2) Stocks and shares ISA with either someone like HL or vangaurd etc. But would it be best to go in a fund for this rather than individual shares for ease of use

3) Buying seperate stocks with someone like Halifax share dealing or Etoro or Trading 212 (or anyone else)

4) Pension or SIPP - simply because of the tax relief aspects and can invest a low amount like 1k for time being for my future

5) Any other investment portfolio

What would be best few things to do and where should i concentrate first as it is a bit of a minefield out there espcially for a first timer

thanks in advance

Hi

A few questions...

* Self employed as in a sole trader or a director of a limited company?

* How old are you?

* Are you a higher rate tax payer?

[c_206]

cloud_dog said:

Hi

A few questions...

* Self employed as in a sole trader or a director of a limited company?

* How old are you?

* Are you a higher rate tax payer?

Sole trader, 33, lower rate tax payer

[economicpygmy]

As you're 33 look into Lifetime ISA Stocks and Shares. You put in 4k, government puts in 1k.
A few providers e.g. AJ Bell