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Stock and Shares ISAs

brir

brir

Striker
Hi, need some advice

We have Stocks and Share ISAs atm that are not doing well, like everyone elses

Is it advsiable and is it possible to change them to cash ISAs? Over 4% for 3 years is being offered presently

Thanks
 

brir said:
Hi, need some advice

We have Stocks and Share ISAs atm that are not doing well, like everyone elses

Is it advsiable and is it possible to change them to cash ISAs? Over 4% for 3 years is being offered presently

Thanks
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You can get 4% on an 18 month ISA with Santander at the moment.

Not sure i'd be locking the money away for 3 years at 4%, interest rates could go higher than 4% over that period.

Over a longer period Stocks and Shares are generally a better bet than cash ISA's.
 
Darlo1973 said:
If anything now could be a good time to throw more cash at your S&S ISA. Depends when you will be wanting access to the fund.
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Where/ when does the growth in a standard S&S pot hit your tax bill? Cos I’ve bought and sold without ever being taxed (subject to my knowledge).

Is it covered by your ~£10k per annum CGT allowance? In which case, given the choice would you not go for a cash ISA over S&S every time?
 
NorthCountryBoy said:
Sorry, I’ll edit the post. I meant S&S non-ISA.
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Yes that’s in your CGT allowance.

It’s worth keeping a S&S ISA on the go though. A lot of providers will let you B&B from the non-ISA to the ISA for a small fee to avoid CGT if you’ve made enough to be of concern. You’ve still got the £20k limit per tax year on how much you can drop into an ISA.

I think the CGT allowance is being cut back over the next few years, making S&S ISAs more attractive.
chunkyshitehawk53 said:
When you sell and crystallise the gain.

Dividends taxable in the year they are paid
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And what he said ^^
 
Capital Gains Tax exempt amount now £6,000 in current year, £3,000 next tax year. Your investment provider or platform will issue you a tax certificate with the mount of capital gains or dividends earned which become potentially taxable over £1,000.
 
Hair Flick said:
Yes that’s in your CGT allowance.

It’s worth keeping a S&S ISA on the go though. A lot of providers will let you B&B from the non-ISA to the ISA for a small fee to avoid CGT if you’ve made enough to be of concern. You’ve still got the £20k limit per tax year on how much you can drop into an ISA.

I think the CGT allowance is being cut back over the next few years, making S&S ISAs more attractive.

And what he said ^^
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Cheers. Just as Mrs NCB can only open one per year I was going to focus on cash initially on the basis you have to have quite big gains to trigger CGT anyway.

Cheers 👍🏻
 
squashjoe said:
Maximise your stocks and shares ISA's long term. It's a no brainer
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Been in one over 18 month and only had a loss and it’s stagnant as whatever money is being made is paying the management fee. Considering putting a chunk of it into a 5.5 fixed rate isa for 2 year. I’m not convinced sticking it out.
 
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