ISA guidance - Intelligent Money Private Clients
Discussion
There are 2 major types of ISAs – Stocks & Shares and Cash – with 3 further options in the Junior ISA (JISA), Lifetime ISA (LISA) Innovative Finance ISA.
Which ever option(s) you go for it is very important to remember an ISA is not actually an investment, it is a tax allowance (or ‘wrapper’) that insures any growth or income is completely tax free, as are any withdrawals.
Everyone over 18 gets this allowance every year on 6th of April and you have until the 5th April the following tax year to fill this. Any spare capacity at this point is then lost.
ISA’s are far more compelling than many give them credit for. Once your money is in an ISA it is out of the hands of HMRC (unless, of course, you have breached the rules) and they don not even need to be included on your tax return.
An ISA is a very flexible investment which provides access at any time (unless you have gone for a fixed term investment) with non minimum age required to withdraw or take income (with the exception of the LISA rules).
This thread is wholly related to answering any questions you may have about ISAs.
If your post is not related to ISAs, we have four other threads:
Intelligent Money
Which ever option(s) you go for it is very important to remember an ISA is not actually an investment, it is a tax allowance (or ‘wrapper’) that insures any growth or income is completely tax free, as are any withdrawals.
Everyone over 18 gets this allowance every year on 6th of April and you have until the 5th April the following tax year to fill this. Any spare capacity at this point is then lost.
ISA’s are far more compelling than many give them credit for. Once your money is in an ISA it is out of the hands of HMRC (unless, of course, you have breached the rules) and they don not even need to be included on your tax return.
An ISA is a very flexible investment which provides access at any time (unless you have gone for a fixed term investment) with non minimum age required to withdraw or take income (with the exception of the LISA rules).
This thread is wholly related to answering any questions you may have about ISAs.
If your post is not related to ISAs, we have four other threads:
Intelligent Money
rigga said:
OK, I'm interested in this section, I retired very recently, managed to put 20k into a vanguard lifestyle 60 isa for the 20/21 tax year, now looking for the same for this new tax year, why would I choose one of your products (whatever they are)
Hello MartinThe two main differences are that IM offer additional investment approaches that Vanguard do not and (the really big one) very high personal service levels where you have untilited access to a named Private Client Manager who can go through any financial matter with you and help you build a plan and then stay on track of this. This (like everything else) is all included and does not represtent any additional cost.
If, of course, none of these things are required by you then Vanguard is an excellent provider and there is no reason (based upon your post) to look at moving from them.
If you would like to find out more please feel free to contact Nik at nik.burrows@intelligentmoney.com and he will be happy to help.
Cheers
Julian
We have just put our allowance in with IM for 20/21, we haven't allocated to any investments yet as we just needed to get it in the pot. We do have investments with other providers but i was always put off by the 5% fee on any cash invested, there are also a few other issues that put me off although in fairness that's probably more to do with the advisor rather than the investment company.
We did have a conversation with Nik and everything seems so straight forward, the charges are much lower and all questions are answered. I'm not one for wanting to play with investments, all i want to do is invest the money and someone else manages it, if i wanted to play the stock market i wouldn't be working in a garage and instead i'd be commuting to some bank in London. I just feel IM will work for us.
We did have a conversation with Nik and everything seems so straight forward, the charges are much lower and all questions are answered. I'm not one for wanting to play with investments, all i want to do is invest the money and someone else manages it, if i wanted to play the stock market i wouldn't be working in a garage and instead i'd be commuting to some bank in London. I just feel IM will work for us.
stevemcs said:
We have just put our allowance in with IM for 20/21, we haven't allocated to any investments yet as we just needed to get it in the pot. We do have investments with other providers but i was always put off by the 5% fee on any cash invested, there are also a few other issues that put me off although in fairness that's probably more to do with the advisor rather than the investment company.
We did have a conversation with Nik and everything seems so straight forward, the charges are much lower and all questions are answered. I'm not one for wanting to play with investments, all i want to do is invest the money and someone else manages it, if i wanted to play the stock market i wouldn't be working in a garage and instead i'd be commuting to some bank in London. I just feel IM will work for us.
Hi stevemcsWe did have a conversation with Nik and everything seems so straight forward, the charges are much lower and all questions are answered. I'm not one for wanting to play with investments, all i want to do is invest the money and someone else manages it, if i wanted to play the stock market i wouldn't be working in a garage and instead i'd be commuting to some bank in London. I just feel IM will work for us.
Thank you for your very kind words and I am very happy we have been able to simplify things and provide you with lower charges.
We will do our very best for you and if there is anything you ever would like to go over just contact Nik (nik.burrows@intelligentmoney.com)
Cheers
Julian
Tony Angelino said:
JulianPH said:
Tony Angelino said:
Is this the suggested toipic for PHE/PHR (and similar) related chat please?
I am going to see if I can set up new a link for this sort of chat.Cheers
Obviously the main Vol 2 thread is a continuation of the original thread and so that can always be used in the same way as before for this too.
Cheers
Julian
New to the world of ISAs, please bear with!
Invested £18k in an IM ISA in November last year. 50% PHE and 50% PHR. Since then there have been six sell-offs of PHR, all proceeds of which I have reinvested back into the ISA - the first one into PHR and the subsequent five into PHE.
Just received the email from IM about the latest (seventh for me) sell off of Carnival etc and that the cash proceeds will be available in my client portal on Tuesday next week.
My question is: Now we are in a new tax year, do I have to start a new ISA to reinvest that cash, or is it still held within the 20-21 IM ISA 'wrapper', and therefore simply put back into PHE in the same way as I have done on the six previous occasions?
TIA
Invested £18k in an IM ISA in November last year. 50% PHE and 50% PHR. Since then there have been six sell-offs of PHR, all proceeds of which I have reinvested back into the ISA - the first one into PHR and the subsequent five into PHE.
Just received the email from IM about the latest (seventh for me) sell off of Carnival etc and that the cash proceeds will be available in my client portal on Tuesday next week.
My question is: Now we are in a new tax year, do I have to start a new ISA to reinvest that cash, or is it still held within the 20-21 IM ISA 'wrapper', and therefore simply put back into PHE in the same way as I have done on the six previous occasions?
TIA
Four Seasons Total Landscaping said:
New to the world of ISAs, please bear with!
Invested £18k in an IM ISA in November last year. 50% PHE and 50% PHR. Since then there have been six sell-offs of PHR, all proceeds of which I have reinvested back into the ISA - the first one into PHR and the subsequent five into PHE.
Just received the email from IM about the latest (seventh for me) sell off of Carnival etc and that the cash proceeds will be available in my client portal on Tuesday next week.
My question is: Now we are in a new tax year, do I have to start a new ISA to reinvest that cash, or is it still held within the 20-21 IM ISA 'wrapper', and therefore simply put back into PHE in the same way as I have done on the six previous occasions?
TIA
You can put up to 20K into that same ISA for the 2021-22 tax year, no problem at all Invested £18k in an IM ISA in November last year. 50% PHE and 50% PHR. Since then there have been six sell-offs of PHR, all proceeds of which I have reinvested back into the ISA - the first one into PHR and the subsequent five into PHE.
Just received the email from IM about the latest (seventh for me) sell off of Carnival etc and that the cash proceeds will be available in my client portal on Tuesday next week.
My question is: Now we are in a new tax year, do I have to start a new ISA to reinvest that cash, or is it still held within the 20-21 IM ISA 'wrapper', and therefore simply put back into PHE in the same way as I have done on the six previous occasions?
TIA
I have an extension to this for Julian/Nik/Steve to clarify, if I may
I'm in a position where I have a GIA with some monies in - I want to move 20k from there to my ISA....but they are in PHR & some PHE - will that move take across the holdings as they stand?
Especially of interest now PHR is 'closed' to new investments!
mikeiow said:
I have an extension to this for Julian/Nik/Steve to clarify, if I may
I'm in a position where I have a GIA with some monies in - I want to move 20k from there to my ISA....but they are in PHR & some PHE - will that move take across the holdings as they stand?
Especially of interest now PHR is 'closed' to new investments!
No, there's no in-specie transfer from GIA to ISA or Pension. The funds are sold down to cash & transferred & then re-invested.I'm in a position where I have a GIA with some monies in - I want to move 20k from there to my ISA....but they are in PHR & some PHE - will that move take across the holdings as they stand?
Especially of interest now PHR is 'closed' to new investments!
Four Seasons Total Landscaping said:
New to the world of ISAs, please bear with!
Invested £18k in an IM ISA in November last year. 50% PHE and 50% PHR. Since then there have been six sell-offs of PHR, all proceeds of which I have reinvested back into the ISA - the first one into PHR and the subsequent five into PHE.
Just received the email from IM about the latest (seventh for me) sell off of Carnival etc and that the cash proceeds will be available in my client portal on Tuesday next week.
My question is: Now we are in a new tax year, do I have to start a new ISA to reinvest that cash, or is it still held within the 20-21 IM ISA 'wrapper', and therefore simply put back into PHE in the same way as I have done on the six previous occasions?
TIA
Once the money is in the ISA you can move between funds at anytime, for example any money already invested and moving from say PHR to another fund has no relevance to this new tax year allowance.Invested £18k in an IM ISA in November last year. 50% PHE and 50% PHR. Since then there have been six sell-offs of PHR, all proceeds of which I have reinvested back into the ISA - the first one into PHR and the subsequent five into PHE.
Just received the email from IM about the latest (seventh for me) sell off of Carnival etc and that the cash proceeds will be available in my client portal on Tuesday next week.
My question is: Now we are in a new tax year, do I have to start a new ISA to reinvest that cash, or is it still held within the 20-21 IM ISA 'wrapper', and therefore simply put back into PHE in the same way as I have done on the six previous occasions?
TIA
Any new money (not already invested) you put into an ISA between now and end of 21/22 tax year will part of your current tax year £20,000 allowance.
Specific question for Intelligent Money admin: Re GIA vs ISA same funds
why would I see today a drop in value of the PHE ( neg 5,5% ) in my GIA and at same time an increase in the PHE fund in my ISA ( + 1.3% ) ?
More perplexing by the fact that the magnitude of the drop is way larger in the GIA than the ISA increase ( the principle sum in the ISA is pretty much 10x that in the GIA )
pictorial from website today ....same date scales
why would I see today a drop in value of the PHE ( neg 5,5% ) in my GIA and at same time an increase in the PHE fund in my ISA ( + 1.3% ) ?
More perplexing by the fact that the magnitude of the drop is way larger in the GIA than the ISA increase ( the principle sum in the ISA is pretty much 10x that in the GIA )
pictorial from website today ....same date scales
Edited by PM3 on Saturday 10th April 09:37
Edited by PM3 on Saturday 10th April 09:48
dingg said:
As above, looks to me like the wheels have fallen off overnight or the gremlins have gotten in and eaten some wires as my numbers are way out to the downside.
If I'm wrong we've suffered a mini crash :-0
A paranoid person might wonder over a period of time what is correct and what is not, even where one is diligently recoding the daily activity to another storage . If I'm wrong we've suffered a mini crash :-0
anyway lets see how it comes out in the wash . Points as follows for reasons
-10 it is a crash
-90 it was a glitch
-20 it was a bug
+50 it was human error and we have slapped the responsible person
+100 it was unannounced HMRC compliance audit and we had to load past value
PM3 said:
dingg said:
As above, looks to me like the wheels have fallen off overnight or the gremlins have gotten in and eaten some wires as my numbers are way out to the downside.
If I'm wrong we've suffered a mini crash :-0
A paranoid person might wonder over a period of time what is correct and what is not, even where one is diligently recoding the daily activity to another storage . If I'm wrong we've suffered a mini crash :-0
anyway lets see how it comes out in the wash . Points as follows for reasons
-10 it is a crash
-90 it was a glitch
-20 it was a bug
+50 it was human error and we have slapped the responsible person
+100 it was unannounced HMRC compliance audit and we had to load past value
I am about to take a leap into the mysterious world of s&s and investments in general.
Having read all that i can regarding the services offered by Intelligent Money i am concerned to read that they only take clients with in excess of 100k to invest.
Whilst i will ultimatly have this amount, initially i want to start small and gain confidence without jumping straight in.
Having read all that i can regarding the services offered by Intelligent Money i am concerned to read that they only take clients with in excess of 100k to invest.
Whilst i will ultimatly have this amount, initially i want to start small and gain confidence without jumping straight in.
mikyman said:
I am about to take a leap into the mysterious world of s&s and investments in general.
Having read all that i can regarding the services offered by Intelligent Money i am concerned to read that they only take clients with in excess of 100k to invest.
Whilst i will ultimatly have this amount, initially i want to start small and gain confidence without jumping straight in.
That requirement is waived for PH members, as is the initial charge.Having read all that i can regarding the services offered by Intelligent Money i am concerned to read that they only take clients with in excess of 100k to invest.
Whilst i will ultimatly have this amount, initially i want to start small and gain confidence without jumping straight in.
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