Two ISAs in one year.

The second ISA will be 'unwrapped' from its start date. Unless you don't want the investment if it's not an ISA, why don't you just leave it and let the Revenue deal with it in their own time? You can regard it as unwrapped now. No point in losing sleep over it.

Rob Graham

Last week is 2004/05. Are you sure there is a problem.

Contact the Inland Revenue and tell them.

For a basic rate tax payer, there isn't really any advantage in having an equity ISA any more. There is no tax relief on dividends, and the Capital Gains probably won't exceed your annual allowance.

In message , Jonathan Bryce writes

What about fixed interest stocks though? They still benefit and whilst you may not want Fxd Int in your ISA now, at some time in the future you may wish to swith your share based funds to Fixed Interest, e.g. to take an income in retirement, in which case the tax free interest might be quite handy.

Whilst, at first glance, low levels of investment into equity ISAs may not seem to require CGT protection, over a period of years it is surprising how capital can grow and saving £3k per year for 10 years could quite easily develop into a profit in excess of the CGT threshold. Also, by investing in the ISA you dont have to keep records to do any calcs with taper etc., (and which could be quite laborious if it were regular savings) to see if youve escaped CGT.

As the ISA wrapper, in effect, comes free you may as well use it.

Yes, for fixed interest stocks, an ISA is worthwhile. I would use the ISA allowance for that, and leave the shares outside.

This is true, but you just need to move things around when they get towards the CGT threshold.

If it would otherwise be wasted, then yes. But cash, gilts and corporate bonds should go into the ISA in preference to shares.

In message , Jonathan Bryce writes

Agreed, but dont forget that once the shares are in an ISA, they can be switched into cash, fxd int etc., within the ISA without effecting the current years contribution. If you have ISA allowances available the shares should still go in the ISA so that you can switch them later.

Yeah - the OP wasn a copy from a aquery I made elsewhere which was in

Just my local office? No worries...

ian

In message , Ian Diddams writes

No, the one who deals with your tax affairs.