Stocks and shares mini isa

Well, if you've already got a cash mini isa (and assuming you've paid into it already this tax year), then you can set up a stocks and shares mini and pay a maximum of £3000 into that (the same maximum as for the cash one). On the other hand, if you haven't paid into your cash isa this year, you could set up a new maxi isa which would let you put in up to £7000.

The next question for you is then what you invest in, of course, the potential reward, the more risk there generally is. There have been any number of studies showing that investment funds that do well over a given period, are then towards the bottom of the table over the next such period and the safest thing to do is go for some kind of tracker fund (also the cheapest).


regards, Tam

Have a look at www.fool.co.uk

Its not a joke site and its work safe so dont let the title put you off.

quote:

a maximum of £3000 into that (the same maximum as for the cash one).

Tam,

The rules have changed and £4,000 can now be invested into a mini S&S ISA.

Brad

Thanks Brad, that one passed me by.

regards, Tam

quote:

Originally posted by Tarquin Maynard-Portly:
Why not ask an IFA?

Methinks I shall reserve such expertise for the day I consider moving my pension about or something equally serious. Sounds a bit much for an ISA...

quote:

Originally posted by Merto:
Have a look at www.fool.co.uk

Its not a joke site and its work safe so dont let the title put you off.

Cheers Merto, think this might be the sort of info I'm looking for

You need to be careful with both IFAs and ISAs. My wife and I invited three IFAs to advise us, two of them worked for leading players in the market the other was less known. So a reasonable spread. Two of them submitted proposals that were factually incorrect with regard to taxation law and arithmetically correct. I now handle all of our investments myself.

With regard to an ISA it is debatable if there is any point in an equity based ISA unless you are paying Capital Gains Tax - which few are. The Chancellor has cunningly taken away most of the tax advantages that existed previously.

Also you need to look carefully at costs as they can eat into your profits rapidly.

Someone has suggested a tracker. If you go for one you might consider one that tracks the FTSE All Share rather that the FTSE 100 as that is dominated by just a few companies whose fortunes cam swing the figures.

Whatever you do you should look at all the information out there before jumping in. There is a lot of comparative data published on performance and costs


Max

After maxing out the cash ISA £3k, Premium Bonds are a good alternative. No interest, but prizes are tax free and provide instant CD or HiFi lump sums, depending on size!

Nigel