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Old 22.12.2016, 18:42
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ISA investments

I'm looking into this for somebody and hoping some of the ISA gurus on here might be up to date with this information.

If you want to invest in stocks and shares in an ISA wrapper, how does it work with the ISA limits? e.g. if you invest a certain amount with fundsmith directly in an ISA wrapper and then separately invest, say, in another fund with HL in an ISA wrapper, is it OK to have 2 wrappers so long as the amounts in both fall under the limit for a given year? Or do you have to have a single wrapper?
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Old 22.12.2016, 19:09
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Re: ISA investments

Why not just invest with HL and have FS in the wrapper and keep it all in one place.

To answer you question you can only have one type of each ISA in a calendar year

https://www.gov.uk/individual-saving.../how-isas-work
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Old 23.12.2016, 11:09
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Re: ISA investments

I believe it needs to be in a single product for the year - 1 cash ISA and 1 stocks and shares ISA. So in that case you'd need to put the whole allowance into either fundsmith or HL...




Porsch - regarding your question, HL charges an extra 0.45% platform fee which you would save when investing directly with Fundsmith.
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Old 23.12.2016, 11:53
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Re: ISA investments

Googling "multiple stock share isa" ...

Quote:
You can only pay into one Stocks and shares ISA in each tax year, but you can open a new ISA with a different provider each year if you want to. You don’t have to use the same provider for your Cash ISA, if you have one.
https://www.moneyadviceservice.org.u...ares-isas-work

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Each tax year you can put money into one of each kind of ISA.
https://www.gov.uk/individual-saving.../how-isas-work

Note that it's not allowed to open an ISA, or fund existing ones, if you're not a UK resident.
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Old 23.12.2016, 12:25
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Re: ISA investments

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Note that it's not allowed to open an ISA, or fund existing ones, if you're not a UK resident.
Just to add to this, even if you are tax resident in the UK but domiciled in Switzerland you can't create new or add to an ISA either.

If it is found out that you have been doing this (unintentionally or not) they will refund your money to you from the fund minus any interest earned since you left the UK.

Source: I was in this situation and that's what happened to me.
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