ISA Query

Hi, Looking for a bit of advice if anyone knows... I am trying to setup a portion of my salary to savings and investment. Currently I have a portion going into a Maxi Cash ISA which was subscribed to this year. However, i would also like to start trading in shares, and after countless emails to my current ISA provider and share trading companies I am none the clearer as to if I can invest into another ISA as they all have provided different answers.

Ideally, I would like 60% of the sum I am putting aside to go into my Cash Maxi ISA, and the remainder 40% to be used in selecting shares, preferably a Self Select ISA with international buying options.

Anyone know if this is feasable?

Reply to
Rich
Loading thread data ...

In message , Rich writes

You cant have a maxi cash isa, only a mini cash isa. could you repost taking this into account so as to be sure we have the right info?

Reply to
John Boyle

What do you mean by a 'Maxi Cash Isa'. You can have a mini cash Isa with a maximum of £3,000 invested. In the same year you can have mini share ISA with £4,000 maximum invested. Or, instead, in any one year you can have a single Maxi Isa, with a total limit of £7,000. You can invest up to £3,000 cash in it as well as shares.

see

formatting link
So, if you have a maxi ISA this tax year, it can have a shares component, but may be limited in terms of types of funds by the current ISA provider. If you have a mini cash isa you can open a mini share ISA but only have a couple of weeks to invest in it. From April you can have the two separate types of mini ISA (with different providers), or a new maxi ISA, and you should choose a provider which allows self-select.

Toom

Reply to
Toom Tabard

I was confusing myself with the maxi cash ISA aspect, sorry for confusion. Thanks for posts. The mini stocks option seems limited as to international investing, I think i will go for a standard eTrader account for investing.

Thanks!

Reply to
Rich

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.