Stocks & Shares ISAs

[rootsnall]

Eh? Do you mean just? I thought you lost it if you weren't in by the end of the tax year.

I paid in my 7K each year but kept it in cash within the ISA wrapper. As explained in the post above outfits such as H&L sometimes offer good rates of interest on cash holdings so you can time buying the shares.

[ace00]

Eh? Do you mean just? I thought you lost it if you weren't in by the end of the tax year.

I guess he transferred existing cash ISAs to equity ISAs.
I invest the limit (7200) each year. So far it's been a very bad move.
But that's all NuLieborZanuPF's fault.

[ASB]

Eh? Do you mean just? I thought you lost it if you weren't in by the end of the tax year.

I think the point was being made is that cash can be deposited in the ISA (subject to annual contribution limits) in preparation for trading. You can sit on it. In the same way as you can sell things, leave the cash in the ISA and invest again at some other point.

The limits for this used to be really strict (I think it might even have been as low as 14 days) but they have been relaxed over the years.

[rootsnall]

The limits for this used to be really strict (I think it might even have been as low as 14 days) but they have been relaxed over the years.

I've never read the rules, but I assume you can just put your 7K in a Maxi ISA now and delay buying aslong as you want !?

I still wasn't sure what the script would be when it came to buying either ( ie. they used to have limits on single stock holdings ) but it appeared I could do what I wanted.

[Peoplesoft bloke]

I guess he transferred existing cash ISAs to equity ISAs.
I invest the limit (7200) each year. So far it's been a very bad move.
But that's all NuLieborZanuPF's fault.

I think the point was being made is that cash can be deposited in the ISA (subject to annual contribution limits) in preparation for trading. You can sit on it. In the same way as you can sell things, leave the cash in the ISA and invest again at some other point.

The limits for this used to be really strict (I think it might even have been as low as 14 days) but they have been relaxed over the years.

Got it now - thanks for the clarification.

[ASB]

I've never read the rules, but I assume you can just put your 7K in a Maxi ISA now and delay buying aslong as you want !?

I still wasn't sure what the script would be when it came to buying either ( ie. they used to have limits on single stock holdings ) but it appeared I could do what I wanted.

I'm bored. So I looked it up.

The current rules are that cash can be held in a maxi ISA - however the interest on that cash is taxed at 20%

http://www.everyinvestor.co.uk/inves...ng-in-the-tail

The old rules were that the interest was not taxed but this gave rise to possible abuse hence the restrictions on cash holdings.

[rootsnall]

The current rules are that cash can be held in a maxi ISA - however the interest on that cash is taxed at 20%

Well there you go ! I wonder if H&L deduct it at source or if I'll be forgetting to put it on my self assessment

I'm guessing it's deducted at source. They don't tell you that when luring you in with high interest rates

ps. just read the link, deducted at source