Just a very quick yes, no question
Discussion
Morning Everyone. I'll keep this short as it's probably be done to death. I've got £5k. I've already got Bonds, Stock Market stuff, Pensions etc but I've never had an ISA. Just looking for something, not looking for a quick turnaround, Vanguard S&S 40/60 ISA seems quite a good easy deal.
Yes?
Simon.
Yes?
Simon.
rockin said:
The bigger question is why aren't you moving that £5k AND some existing investments onto an ISA platform to use more of or your full £20k ISA allowance? Plus you get an additional £20k allowance on 6 April 2021.
Oh all the other investments are doing quite nicely as they are, I get your point though. I can always set up another ISA later on in the year and put more funds in.Cheers, Simon.
Simon Bags said:
Oh all the other investments are doing quite nicely as they are, I get your point though. I can always set up another ISA later on in the year and put more funds in.
Cheers, Simon.
Unless you've run out of ISA allowance, it's generally good practice to invest inside one rather than outside - apart from anything else, it makes filling in tax forms easier, and if the investments do well enough, it saves you tax.Cheers, Simon.
Simon Bags said:
Benbay001 said:
More the reason to have them inside an ISA wrapper then, surely?
I can't release the funds from them just yet.As said, an ISA is simply a bag that you can hold investments in with tax advantages.
If your Vanguard fund and ISA is on the Vanguard platform, as I presume it would be, the only slight catch is that you can only hold Vanguard products on that platform. That may be fine for you, but if you wanted to invest any of the remaining £15K allowance in a fund from any other company it would have to be somewhere else.
As an alternative you could open the ISA account with someone like Fidelity, buy the Vanguard fund you want there, and then have thousands of options going forward.
If your Vanguard fund and ISA is on the Vanguard platform, as I presume it would be, the only slight catch is that you can only hold Vanguard products on that platform. That may be fine for you, but if you wanted to invest any of the remaining £15K allowance in a fund from any other company it would have to be somewhere else.
As an alternative you could open the ISA account with someone like Fidelity, buy the Vanguard fund you want there, and then have thousands of options going forward.
Simon Bags said:
Vanguard S&S 40/60 ISA
Simon Bags said:
I just wanted people's opinion on the Vanguard ISA.
Just be aware you're asking two questions - firstly about the ISA wrapper that Vanguard provide and secondly about the fund(s) that you might hold within the ISA, which from the description is a lifestrategy fund.Vanguard as a platform has low fees, the downside is you can only invest in their products. Once you get about a certain level invested other platforms may be cheaper - for example Vanguard fees are 0.15%, Hargreaves Lansdown are 0.45%, but capped at £45 a year, but there are dealing fees (which you can avoid with Vanguard). So it depends how you're going to use the platform, breakdown of providers here https://monevator.com/compare-uk-cheapest-online-b...
The lifestrategy funds are a mix of stocks and bonds, overview here: https://www.sharesmagazine.co.uk/article/understan... I've also seen criticism that they are too UK centric.. which you might see as a good or bad thing. Performance last year : https://www.trustnet.com/news/7464131/three-reason...
Simon Bags said:
Transfer money from fixed rate Bond to a S&S ISA before maturity?
It's fine, I just wanted people's opinion on the Vanguard ISA.
You quoted "Stock Market stuff" at the top, which is presumably eligible for an ISA wrapper?, and then asked a question that suggested you didn't really understand what an ISA is.It's fine, I just wanted people's opinion on the Vanguard ISA.
Mr Overheads said:
If you've got stocks that have done well, makes sense to take up to your Capital Gains allowance for this year, then transfer into ISA, buy the same shares back if you want to, it's called "Bed & ISA". Then in April, do the same again. That way in under 2 months you can have 40k moved from a taxable to a non-taxable situation and still own exactly the same stocks.
I think you can't buy the same fund/stock that you sold for a period of 30 days for it to qualify.OP your post raises so many questions that it just isn't possible to give a yes/no answer. Either could be wrong depending on your situation and plans.
This link below might help you to decide whether you want to pay for financial planning help or not.
https://www.investopedia.com/articles/personal-fin...
If you go down a DIY route then there are plenty of resources such as books and YouTube videos but it's something be tackled over many months and years in my experience.
Doing neither puts you at risk of making a planning mistake that you can't recover from.
This link below might help you to decide whether you want to pay for financial planning help or not.
https://www.investopedia.com/articles/personal-fin...
If you go down a DIY route then there are plenty of resources such as books and YouTube videos but it's something be tackled over many months and years in my experience.
Doing neither puts you at risk of making a planning mistake that you can't recover from.
xeny said:
You quoted "Stock Market stuff" at the top, which is presumably eligible for an ISA wrapper?, and then asked a question that suggested you didn't really understand what an ISA is.
Stock Market stuff, as in about 10 years ago I bought through an HSBC trading account, shares in several Companies.I've tried to understand what an ISA is.
Thanks,
Mr Pointy said:
Mr Overheads said:
If you've got stocks that have done well, makes sense to take up to your Capital Gains allowance for this year, then transfer into ISA, buy the same shares back if you want to, it's called "Bed & ISA". Then in April, do the same again. That way in under 2 months you can have 40k moved from a taxable to a non-taxable situation and still own exactly the same stocks.
I think you can't buy the same fund/stock that you sold for a period of 30 days for it to qualify.Bed & ISA is sell and immediate buy back within the ISA wrapper, no lay off period.
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