Lawrenceslongthrowin
Striker
So this might sound stupid but if your max this years allowance then transfer to a new isa account after April 6th , you will still have the 20k and the possibility of another 20k until April 2027, so interest on 40k?
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Stocks n Shares ISA
- Thread starter Fletch
- Start date
Matt Hopkins
Winger
you can invest £20k each tax year
32nd of December
Full Back
Yeah. Ive got 20 ready to split between a cash isa and stocks and shares funds isa's come April 6th.
I'll put 11 in a cash isa as its money i have that my dad left me and I don't want to risk that, them I'll put 3000 into each of my 3 s&s funds.
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Darlo1973
Striker
Yes and you can keep on doing it year after year. There are people with hundreds of thousands (and some over a million) in tax free savings and investments.
32nd of December
Full Back
Although it's going down to 12k a year fron 2027
Markets haven't been as bad as I feared this morning, Europe clawed back roughly 1.5% and America trading up as we speak.
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Fletch
Striker
The 12k is just cash isa from 2027. S&S isa remains 20k
32nd of December
Full Back
So you could put 12k into a cash and 8k into a s&s?
Darlo1973
Striker
That's the plan though they are going to stop you holding cash or "cash like" investments in an S&S ISA though how that will work in practice is still out for consultation with the industry as it is perfectly normal to have some cash in an S&S ISA as a result of univested deposits or dividend payments.
Ghengis Cant
Full Back
Provided you transfer between isas if you withdraw to your bank then into another isa you use your allowance..
Annoying thing is thst those offering a 12 month bonus rate only pay it on (new cash) deposits not transfers
CW7
Midfield
Folks - bit of advice pse from you wise old SMB investors
Friend of mine (obvs) has £30k in a bog standard savings account paying 4.25% AER interest compounded monthly! He’s not a massive risk taker, the interest gets him £100 a month! Is he best of leaving it there? Or, is there anything out there better with little to no risk, i’ll pass your knowledge onto him!
Friend of mine (obvs) has £30k in a bog standard savings account paying 4.25% AER interest compounded monthly! He’s not a massive risk taker, the interest gets him £100 a month! Is he best of leaving it there? Or, is there anything out there better with little to no risk, i’ll pass your knowledge onto him!
Batdad
Striker
Also how soon might you need access to the money? General rule of thumb is if you are likely to need it within 5 years S+S is less useful.
Ned Land
Winger
They should have asked copilot/chatgpt. The reply could have been ‘buy EXCITE energy shares - lots of them’.
If I was him I'd put 10-15k in Premium bonds or leave in savings. That covers him off for to be able to pay off any unexpected bills without losing any value and then put half in S&S where historical performance suggests that they will see a much better return assuming they ride the market and don't take it out after a market dip/ crash. Also if they're nervous don't check on the balance too regularly when the market is wobbly.
42
Striker
4.25 is decent for cash isa. If hes risk adverse you can't force him to move it. Also depends on age. If hes oldish & doesn't have decades left then cash may be better. If young, then should do better in s&s if funds are for long term. All you can do is try to convince him by presenting the facts. However, should a crash happen youll get the blame
Mine's plummeting like you wouldn't believe. I'm gonna make a pledge not to check it until Operation Epstein is over
Me too, also gonna carry on paying my £175 a month in come rain or shine... Unless I end up on the rock and roll
Matt Hopkins
Winger
In- Not checking your ISAMine's plummeting like you wouldn't believe. I'm gonna make a pledge not to check it until Operation Epstein is over
Out- Checking your ISA
Turning one of your rooms into a bar
42
Striker
Not if in isa
