ISA Query

Mar 19, 2007 3 Replies
R

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?



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J

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?

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T

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

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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

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R

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!

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