A quick ISA question....
Discussion
I'm well aware of the tax free status and limits with regards ISA's, but dont understand one thing.
If for example you have an ISA in the 09/10 tax year with, say, Natwest in the 10/11 tax year can you open one up with, say, Nationwide. Would you have to tell Natwest that you dont intend to use the ISA in 10/11?
I'm assuming that if you don't put any money in Natwest after 5 April 2010 but do put money in Nationwide then that would become your 10/11 ISA?
If for example you have an ISA in the 09/10 tax year with, say, Natwest in the 10/11 tax year can you open one up with, say, Nationwide. Would you have to tell Natwest that you dont intend to use the ISA in 10/11?
I'm assuming that if you don't put any money in Natwest after 5 April 2010 but do put money in Nationwide then that would become your 10/11 ISA?
v15ben said:
Yep you just need to fill in the relevant forms and the banks move the account and your cash across. Easy.
Actually you don't need to move existing balances, you can just invest in one with 1 provider in 1 year and another in the next.In fact I think that, provided your total investment in the tax year is within the total for a cash ISA you can invest with more than 1 provider?
Anyone like to confirm that, or am I talking rubbish?
Another question though:
If you invest with 1 provider into a stocks and shares ISA e.g. by regular contributions into various unit trusts, can you invest into e.g. an investment trust regular investment scheme within the investment trust company's ISA (provided you stay within overall limit of course)?
v15ben said:
Yep you just need to fill in the relevant forms and the banks move the account and your cash across. Easy.
Actually you don't need to move existing balances, you can just invest in one with 1 provider in 1 year and another in the next.In fact I think that, provided your total investment in the tax year is within the total for a cash ISA you can invest with more than 1 provider?
Anyone like to confirm that, or am I talking rubbish?
Another question though:
If you invest with 1 provider into a stocks and shares ISA e.g. by regular contributions into various unit trusts, can you invest into e.g. an investment trust regular investment scheme within the investment trust company's ISA (provided you stay within overall limit of course)?
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