Mudball
Assistant Pro
i meant a different products.. just combine it into one.. I have some cash in my stock isa that is waiting to be invested... but i can access it..
Investments - Strategies, Ideas, Options & advice
- Thread starter PNWokingham
- Start date
Oddsocks
Ryder Cup Winner
Seems Barclays are running a promo this month to encourage people to open cash isa and s&s isa accounts.
Being green to this what’s the difference between a stocks & shares ISA verses a cash ISA.
In addition, once opened are the deposits restricted per year and fixed as a standing order or can you put in as and when you have surplus and choose to do so?
Being green to this what’s the difference between a stocks & shares ISA verses a cash ISA.
In addition, once opened are the deposits restricted per year and fixed as a standing order or can you put in as and when you have surplus and choose to do so?
PJ87
Journeyman Pro
Stocks and shares isas from my understanding is what it says on the tin..you put stocks and shares in an ISA that has a limit that is tax free
IE say you put 20k in stocks and shares it's tax free in that ISA
The cash ISA limit ATM is 20k , if I remember rightly it's 20k combined..it used to be much lower for cash then higher for stocks and shares as they want you investing in that to promote growth but it's riskier . Cash is steady
I have money in cash ISA for this year with a 20k limit. I pay in when I want however this is because it's what I've selected when signing up
I can make 3 withdrawals a year otherwise I lose some bonus interest payments
It all depends on the product you select
harpo_72
Journeyman Pro
Class
backwoodsman
Tour Winner
You can put a maximum of £20K into an ISA each year. There are 4 types of ISA (cash; stocks & shares; innovative finance; and Lifetime) so you can split as you choose your £20k across the four types. (Except you can only put a maximum of 4k per year into the Lifetime ISA type). You can invest in one go, or in dribs & drabs - just cant go above the £20k total in any one year.
hambugerpete
Well-known member
Cash ISA is exactly that, cash only max 20k deposit per year no tax on any interest.
Cash is great for short term savings and for emergencies, but long term your not going to get that good a return.
Stocks and shares ISA, same 20k limit but you can hold loads of different investments in it , from single equities to ETFs and everything in between!
Again no tax on any gains made inside an ISA.
20k limit is across both cash and stocks ISA. I.e you could do 10k in each per year and variances there of.
You can also have more than 1 if each these days, just stick to that 20k limit !
There is also a lifetime ISA but thats for young uns
Cash is great for short term savings and for emergencies, but long term your not going to get that good a return.
Stocks and shares ISA, same 20k limit but you can hold loads of different investments in it , from single equities to ETFs and everything in between!
Again no tax on any gains made inside an ISA.
20k limit is across both cash and stocks ISA. I.e you could do 10k in each per year and variances there of.
You can also have more than 1 if each these days, just stick to that 20k limit !
There is also a lifetime ISA but thats for young uns
PJ87
Journeyman Pro
Cash ISA is exactly that, cash only max 20k deposit per year no tax on any interest.
Cash is great for short term savings and for emergencies, but long term your not going to get that good a return.
Stocks and shares ISA, same 20k limit but you can hold loads of different investments in it , from single equities to ETFs and everything in between!
Again no tax on any gains made inside an ISA.
20k limit is across both cash and stocks ISA. I.e you could do 10k in each per year and variances there of.
You can also have more than 1 if each these days, just stick to that 20k limit !
There is also a lifetime ISA but thats for young uns
Wouldn't be surprised for the rate to be dropped back down to like 5k like it used to be but the overall limit to be kept at 20k
It was changed to make it simply for people to do but can see it returning to boost the markets as they want our money in stocks
hambugerpete
Well-known member
The mail, telegraph etc were spitting feathers about it being set at 4k. Makes no material difference as you can keep cash in the stocks ISA anway. Doesn't stop the tabloids making a big deal out of nothing though
PJ87
Journeyman Pro
Unfortunately the press will always support their sides of the political spectrum rather than report just facts will put in rumours and spin it to what they think of it rather than what's actually happening
The mail is a joke.
Used to love to play a game of daily mail spin .
So you take a good news story like "fireman saves cat from tree"
Go on the mail see how they can make it into a bad story
"Fireman wastes tax payers money saving woke kitten from tree"
Mudball
Assistant Pro
The only other bit i can add is that it is a 1 way street. .Cash ISA is exactly that, cash only max 20k deposit per year no tax on any interest.
Cash is great for short term savings and for emergencies, but long term your not going to get that good a return.
Stocks and shares ISA, same 20k limit but you can hold loads of different investments in it , from single equities to ETFs and everything in between!
Again no tax on any gains made inside an ISA.
20k limit is across both cash and stocks ISA. I.e you could do 10k in each per year and variances there of.
You can also have more than 1 if each these days, just stick to that 20k limit !
There is also a lifetime ISA but thats for young uns
so if you put 20k at the start of the year, then at some point you withdrew 8k. You cant then go back and top it back to 20k.
PJ87
Journeyman Pro
Not entirely true anymore. Apparently flexible ISAs you can take the cash out then put back in (long as by end of tax year) I thought the ISA I have I could do This but keeps telling me I have only £900 left this year (but I withdrew 12k earlier in year) must be a fixed one
Mudball
Assistant Pro
tat seems to be a (good) change
Red devil
Well-known member
If it's a "flexible ISA" you can. MSE has an explainer on this
hambugerpete
Well-known member
Yes I have a cash ISA with 212 trading and it is flexible. Not all are though.
Crazyface
Tour Winner
at 5% interest is it really worth bothering with? Just stick the dosh in a savings account. Or am I missing something?
hambugerpete
Well-known member
Depends how much Dosh and how long for. Short term with no risk then cash is fine, but currently youd be looking at about 1.5% return or so when adjusted for inflation.
Long term, like 5 years plus then stock market is likely to be much better.
10% on average returns, then adjust for inflation still hopefully get between 7 and 8 %
Also anyone with say 25k ish in a regular savings account needs to be careful they don't exceed the yearly tax free allowance. More so if youre a higher rate tax payer .
ISA is safe from that
Fade and Die
Medal Winner
Don’t know if anyone else on here is into the Crypto markets?
I have been for about 5 years, it’s an absolute rollercoaster ride but I have made money in the past but this afternoon some Orange idiot said some magic words my “bag” has rocketed 85%…. Large profits taken!
I have been for about 5 years, it’s an absolute rollercoaster ride but I have made money in the past but this afternoon some Orange idiot said some magic words my “bag” has rocketed 85%…. Large profits taken!
hambugerpete
Well-known member
Ok for a flutter but a bit too risky for my retirement fundsDon’t know if anyone else on here is into the Crypto markets?
I have been for about 5 years, it’s an absolute rollercoaster ride but I have made money in the past but this afternoon some Orange idiot said some magic words my “bag” has rocketed 85%…. Large profits taken!
hambugerpete
Well-known member
Nothing like a trade war to spook the stock market 
Fade and Die
Medal Winner
Every market need stability.Nothing like a trade war to spook the stock market
