15 votes

Have I left investing until too late?

The problem you will have with ISAs is the limit on how much you can invest per year. It's currently £20,000 per year. So even if you have a big lump sum now, you can't invest it all in an ISA. You ...
Simon B's user avatar
  • 10.4k
10 votes
Accepted

Best ISA alternative

Your question is actually quite broad, so will try to split it into it's key parts: Yes, standard bank ISAs pay very poor rates of interest at the moment. They are however basically risk free and ...
Philip's user avatar
  • 5,768
9 votes

Have I left investing until too late?

There are retirement calculators online that you can use to estimate your income in retirement. Here’s one that the Australian government provides. Just about the only thing that can be confidently ...
Lawrence's user avatar
  • 9,362
9 votes
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Lifetime ISAs appear to be well and truly tax free, so why use anything else as a retirement plan?

It's a lot of hypotheticals, but yes you're right that a Lifetime ISA is likely to be strictly superior to a pension if you're a 20% taxpayer and can still contribute to it (i.e. haven't used up the £...
GS - Apologise to Monica's user avatar
8 votes
Accepted

Is it possible to trade in UK's investment ISA after moving abroad?

After doing some more digging I figured there are two parts of this problem: Being able to use the UK investment ISA after moving abroad. Taxing the profits from investments. Re. 1: It was very ...
mac13k's user avatar
  • 261
8 votes
Accepted

Do I need to get a mortgage when using the Lifetime ISA?

The Money Saving Expert page on LISAs confirms that you must take out a mortgage: If you're lucky enough to be buying your first property with cash, you'll pay the withdrawal charge to access your ...
IMSoP's user avatar
  • 960
8 votes

Effect of withdrawing money on ISA contribution allowance

Either the normal annual allowance, or (the normal annual allowance plus £12,000), depending on if your ISA is 'flexible'. From the gov.uk information page (my emphasis): If your ISA is ‘flexible’, ...
AakashM's user avatar
  • 3,982
8 votes

Reinvesting money in an ISA within the same tax year

This depends on who the ISA is with. The key feature you need to check for is whether the ISA is "flexible"; with a flexible ISA you can withdraw money and repay it within the same tax year ...
GS - Apologise to Monica's user avatar
7 votes

Suggested ways to save for a comfortable retirement in the UK given the lifetime allowance limits on pensions?

Your main choices are ISAs and property. You can put over £15,000 per year into an ISA, which means over £450,000 by the time you retire, not allowing for growth in your ISA investments. But if you're ...
Mike Scott's user avatar
  • 23.5k
7 votes
Accepted

Lifetime ISA: What are the chances of a reputable Bank offering it?

The Skipton Building Society has recently announced that it is offering a cash LISA. According to the papers it is the first to offer a cash LISA. Skipton is the UK's 4th largest UK Building Society ...
Robert Longson's user avatar
7 votes
Accepted

What problem is the Help To Buy ISA designed to solve?

Not very well thought out is it? It does still potentially help with the deposit, but since the government are terrified of you getting the 25% extra without a house to show for it, they have made it ...
T Wildash's user avatar
  • 1,306
7 votes
Accepted

What happens to money in ISA after the tax year ends?

ISAs last for as long as you live - you can accumulate a further £20K each following year (or whatever the limit changes to) and the whole balance including gains is tax free. You can also leave the £...
GS - Apologise to Monica's user avatar
7 votes
Accepted

Does the UK life time ISA bonus increase with inflation?

The Lifetime ISA has existed for 2 years. In each of those years the annual limit has been £4000 and the bonus has been fixed at 25% in each period too. The government could change both the limit and ...
Robert Longson's user avatar
7 votes
Accepted

What is the difference between these 2 S&P500 tracking iShare ETFs?

I had the exact same question, and unsatisfied with the responses here I got in contact with iShares and this was their response: IGUS is a legacy ETF, which as you correctly note, tracks a hedged ...
lmms's user avatar
  • 86
7 votes

Have I left investing until too late?

15 Years is surely not too late but it puts you into a pretty disadvantage. You cannot let time work for you through compounding You cannot let time work four you to work out bad times These two ...
Manziel's user avatar
  • 7,422
6 votes
Accepted

Can I max out my LISA with one payment before the end of the tax year?

The contribution limits are per year, so you can certainly make them all in a single lump sum at any time you like, including right at the end of the tax year, and you'll still get all the benefits ...
GS - Apologise to Monica's user avatar
6 votes
Accepted

UK ISA once invested can it be spilt but kept in ISA state

For ISA contributions made this tax year, you can only transfer the entire contribution (I think this is so just one provider can keep track that you haven't gone over the limit). For contributions ...
GS - Apologise to Monica's user avatar
6 votes
Accepted

Does it make sense to invest in multiple index funds?

This looks fine, and depending on your exact risk profile is probably pretty close to optimal for someone of your age and aims. You should just jump in and buy them in their relevant percentages from ...
Philip's user avatar
  • 5,768
6 votes
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How closely tied are UK Stocks & Shares ISAs to the value of the Pound?

It depends. A Stocks and Shares ISA is really just a wrapper around a shareholding account. The value of the account isn't really dependant on the fact that it's an ISA, its value is based on the ...
Greig's user avatar
  • 589
6 votes

What happens when I move my ISAs?

It's done through a transfer ISA form - handled by the providers (the one you are moving to) You have to move it all in one go from one provider to another, and this will not affect your yearly ISA ...
T Wildash's user avatar
  • 1,306
6 votes

Can I buy an overseas property using the bonus from a Lifetime ISA?

The government's own info on using Lifetime ISA funds to purchase your first home here, state that The home you buy must: - be in the UK - have a price of £450,000 or less - be the only home you will ...
timday's user avatar
  • 3,992
5 votes
Accepted

Which is more advantageous: Lifetime ISA or SIPP?

Whilst you're a basic rate taxpayer, and you have LISA allowance left, a LISA is the best bet. With a pension, you get to save tax as you put into the pension, and your money grows tax-free. But when ...
GS - Apologise to Monica's user avatar
5 votes

UK: ISA or regular savings account?

Appreciate the answer has already been chosen, but thought it worth adding: As of 2016/17 tax year, there is a new Personal Savings Allowance (PSA) in the UK which means you can earn up to £1,000 of ...
marktristan's user avatar
  • 3,710
5 votes
Accepted

Investing in stocks & shares ISA- when to make deposits?

Philip's answer gives good advice in general, but I would emphasise that for a Lifetime ISA in particular, the government bonus makes putting in a lump sum as early as possible more of a benefit than ...
Ben's user avatar
  • 111
5 votes
Accepted

Can I open a cash ISA and a stocks and shares ISA and invest in both in the same financial year?

Yes, you can. You can only open or pay into one of each given type of ISA in a given year (eg one cash ISA and one stocks and shares ISA; NOT two cash ISAs). The government has a good overview of ...
Vicky's user avatar
  • 24k
5 votes
Accepted

Lifetime ISA with small stake in an overseas home

Yes your inherited share disqualifies you from using the LISA for a first home, without being affected by the penalty. As I see it your options are to keep the money in the LISA to use for retirement, ...
rdans's user avatar
  • 357
5 votes
Accepted

Claiming UK benefits with a SIPP/ISA

See UC Regs 2013 s46 https://www.legislation.gov.uk/uksi/2013/376/part/6/made/data.xht?view=snippet&wrap=true and Schedule 10 https://www.legislation.gov.uk/ukdsi/2013/9780111531938/schedule/10 ...
thelawnet's user avatar
  • 371
5 votes

Lifetime ISA, Cash ISA

No, there is no minimum limit to get the government bonus How you transfer the money will depend on the platform, I am with Nutmeg and have set up a direct debit. When it first started however, I had ...
Jon's user avatar
  • 91
5 votes

Have I left investing until too late?

No, it's certainly not too late. The best plan is pretty much the same now as it would have been before, except that you have less time for your money to grow. I don't know about UK specifics, but ...
Michael's user avatar
  • 2,365
5 votes
Accepted

What date in a tax year to invest in an ISA?

If you Google "lump sum vs. drip feed" you will find lots of analysis of the topic of scheduling investments (for example https://monevator.com/lump-sum-investing-versus-drip-feeding/ ). ...
timday's user avatar
  • 3,992

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