Savings and Investments thread

Covered End · September 2

Rob7Lee said:

Covered End said:

Rob7Lee said:

A question really for those over 55 or heading to that age with a DC pension.

is anyone NOT taking their full tax free 25% from pension (up to the cap) before age 75? With the new inheritance rules on pensions if you die after 75, aside from the tax free growth for keeping it in your pension (which can be dealt with) I see no reason not to take it in full?

Took it and it's gone helping son buy a house.
Annual withdrawals of the rest keeping tax below the higher rate.
I'll withdraw it all as tax efficiently as possible over the years to come.

Yes I remember you talking about that and the tax free element.

Getting it all out before 75 (and staying below the higher rate) may be difficult for me. In some respects wish I'd paid less in mine and more in my wife's! Until 67 (state pension) I'll be able to draw £50k, but from 67, in today's money will be more like £37k.

Yes, that's what I'm doing.

CheshireAddick · September 2

golfaddick said:

Fortune 82nd Minute said:

One of the changes that the financial genius who was our previous Chancellor has introduced is that it will not be possible to hold cash in a Stocks and Shares ISA from next year without paying tax on it.

Does anyone know for certain whether investing any cash in a S&S ISA in a money fund such as the Royal London Short Term Money market Fund is to be allowed?

I believe Martin Lewis looked at this a few months ago. Currently the rules going forwards says that you can hold cash-like funds in your S&S ISA as long as they don't make up 100% of the ISA value. How HMRC will monitor this I have no idea. I expect more clarity on this before April next year.

Have I misunderstood, I thought Stocks and Shares ISA's were exempt from tax, is that not correct?.

Rob7Lee · September 2

CheshireAddick said:

golfaddick said:

Fortune 82nd Minute said:

One of the changes that the financial genius who was our previous Chancellor has introduced is that it will not be possible to hold cash in a Stocks and Shares ISA from next year without paying tax on it.

Does anyone know for certain whether investing any cash in a S&S ISA in a money fund such as the Royal London Short Term Money market Fund is to be allowed?

I believe Martin Lewis looked at this a few months ago. Currently the rules going forwards says that you can hold cash-like funds in your S&S ISA as long as they don't make up 100% of the ISA value. How HMRC will monitor this I have no idea. I expect more clarity on this before April next year.

Have I misunderstood, I thought Stocks and Shares ISA's were exempt from tax, is that not correct?.

Assuming you are under 65, from next tax year you can only add £12k into a cash ISA the other £8k has to go in a S&S ISA. In addition if you had 100% of a stocks and shares ISA in cash (or cash equivalent investments like MMF's) it loses its tax free status, basically as usual it's not been thought through.

You also won't be able to transfer a stock ISA to cash...... so guess what lots of people are doing now........ yup, transferring the Stock ISA to cash....... the new rules were to get people investing....... idiots heh!

CheshireAddick · September 2

Rob7Lee said:

CheshireAddick said:

golfaddick said:

Fortune 82nd Minute said:

One of the changes that the financial genius who was our previous Chancellor has introduced is that it will not be possible to hold cash in a Stocks and Shares ISA from next year without paying tax on it.

Does anyone know for certain whether investing any cash in a S&S ISA in a money fund such as the Royal London Short Term Money market Fund is to be allowed?

I believe Martin Lewis looked at this a few months ago. Currently the rules going forwards says that you can hold cash-like funds in your S&S ISA as long as they don't make up 100% of the ISA value. How HMRC will monitor this I have no idea. I expect more clarity on this before April next year.

Have I misunderstood, I thought Stocks and Shares ISA's were exempt from tax, is that not correct?.

Assuming you are under 65, from next tax year you can only add £12k into a cash ISA the other £8k has to go in a S&S ISA. In addition if you had 100% of a stocks and shares ISA in cash (or cash equivalent investments like MMF's) it loses its tax free status, basically as usual it's not been thought through.

You also won't be able to transfer a stock ISA to cash...... so guess what lots of people are doing now........ yup, transferring the Stock ISA to cash....... the new rules were to get people investing....... idiots heh!

Cheers for the info, appreciated 👍

Pedro45 · September 3

£125 on max (2.4% in past year...)

PragueAddick · September 3

Got £200 on my reduced holding of 26k, so have to be pleased with that. But I was surprised to learn that they had what I think is a second increase in a few months so the effective interest rate is now a healthy 4.3%. So I'm not surprised to see a few people reporting some decent wins. I was going to amke this my last month before I get out, but I think I may wait until next April now.

Note to any other ageing non-residents thinking about the new IHT rules. Although PBs are income tax free they are regarded as "UK-situs" (whereas gilts are exempt) so they would be IHT taxable. Very silly of the government to push non-residents out of PBs, IMO.

paulsturgess · September 3

Covered End said:

paulsturgess said:

Covered End said:

jamescafc said:

TelMc32 said:

Rob7Lee said:

TelMc32 said:

I’m in drawdown and the schedule is to draw my £268,275 by 75. So effectively, two tax free elements to my monthly income - the personal allowance and the tax-free pot - and then the rest from the main pot. Keeping myself under the top tax rate band, but having to be careful with dividends.

Thanks, exactly my thoughts, just to decide on taking it out over what period. As I'm likely to retire early, withdrawal by 75 will be very easy. However there is one added point that will probably make me draw the lot in one go.

In December 2027 I reach 55 and can access my pension, in April 2028 the age you can access your pension moves to 57. I'm yet to get clarity, but from all I can read, if I don't touch my pension before April 2028 I'll have to wait until I'm 57 which is at the very end of 2029. That period is my concern if government were to change any rules (knowing my luck they would on April 7th 2028!) I could be in Limbo.

I'll probably just take the hit knowing that a bit of growth for a few years will be taxed, but I can minimise that to a degree.

Yeah, I retired at 55 so the tax free element is on a 20 year drawdown schedule. My advisor keeps me updated on what they expect to happen, but I went a couple of years before you, so I don’t have to worry about that 55-57 change. Good luck.

Out of interest, how do you reflect on retirement at 55?

I’m actually looking to do it a bit earlier but lots of people warning me not to, so curious for your views

I retired at 49 and should have retired earlier in hindsight.
What do you do all day everyone says?
The answer is whatever I want to do.

What was your profession CE?

Bank Manager and then Financial Adviser

Nice one. I’m assuming the economics of your retirement were well considered then!!

Carter · September 3

Here's one for the pros

I've done relatively well in my own investments, learning from you lot and a lot of mistakes on my part, lots of reading, listening, watching etc

Anyway. I've gotten to the point the sum I have accrued is more than I trust myself with and have instructed an IFA to take over my fund and handle my investments through the ISA shield transferring from my Trading 212 ISA to them

I have about 900 left of this year's ISA allowance as head room but I've had a notification from 212 telling me the transfer will take me over the allowance. I don't want to be crass and say the amount but what I have built up is over 2 years worth of the ISA max. Now I know any dividends or growth made within the shield of a stocks and shares ISA doesn't count towards your allowance yet I have a feeling 212 are being overly officious when they have no right to be.

I transferred into 212 this year from another ISA I had to use to move an employee share scheme into an EQI one as they are the people who handle the share scheme (shite platform by the way) so I transferred from EQI to 212 an amount of about 10k. In addition I'd managed to put 7k in this year and have continued to invest each month but 212 thought I still had £11k left when I don't. So I understand there being a bit of confusion as I'm relying on my own sums to stay ISA compliant but now this fuckery is preventing me from transferring to the IFA funds

How, and what words do I need to use to go about resolving this? The IFA are fingerprint financial, the provider platform will be Aviva

CAFCsayer · September 3

A lot of people on here seem to have a lot of premium bonds and everyone seems to be yielding 2-3%... I'm a gambling man, but the odds seem massively stacked against you and the average yield is shite. Why do people hold them?

I'm not being facetious, that's a genuine question

CafcWest · September 3

CAFCsayer said:

A lot of people on here seem to have a lot of premium bonds and everyone seems to be yielding 2-3%... I'm a gambling man, but the odds seem massively stacked against you and the average yield is shite. Why do people hold them?

I'm not being facetious, that's a genuine question

I'm at max holding. Mainly keep them because after I've used my annual ISA allowance - there aren't many easy options for tax free saving! So holding premium bonds - any winnings are tax free and it's a bit of fun...never know - could hit a big win one day! This calendar year (to date) I'm at 2.5% tax free return.

Carter · September 3

CAFCsayer said:

A lot of people on here seem to have a lot of premium bonds and everyone seems to be yielding 2-3%... I'm a gambling man, but the odds seem massively stacked against you and the average yield is shite. Why do people hold them?

I'm not being facetious, that's a genuine question

For me

It isn't a gamble as such as your stake is never in jeopardy

The fun each month of seeing if I have won anything on the app and the hope of winning a large sum

Easy access to the money in there

Everything is tax free, if you max out your ISA allowance its a safe option

bobmunro · September 3

Carter said:

Here's one for the pros

I've done relatively well in my own investments, learning from you lot and a lot of mistakes on my part, lots of reading, listening, watching etc

Anyway. I've gotten to the point the sum I have accrued is more than I trust myself with and have instructed an IFA to take over my fund and handle my investments through the ISA shield transferring from my Trading 212 ISA to them

I have about 900 left of this year's ISA allowance as head room but I've had a notification from 212 telling me the transfer will take me over the allowance. I don't want to be crass and say the amount but what I have built up is over 2 years worth of the ISA max. Now I know any dividends or growth made within the shield of a stocks and shares ISA doesn't count towards your allowance yet I have a feeling 212 are being overly officious when they have no right to be.

I transferred into 212 this year from another ISA I had to use to move an employee share scheme into an EQI one as they are the people who handle the share scheme (shite platform by the way) so I transferred from EQI to 212 an amount of about 10k. In addition I'd managed to put 7k in this year and have continued to invest each month but 212 thought I still had £11k left when I don't. So I understand there being a bit of confusion as I'm relying on my own sums to stay ISA compliant but now this fuckery is preventing me from transferring to the IFA funds

How, and what words do I need to use to go about resolving this? The IFA are fingerprint financial, the provider platform will be Aviva

If you haven't already done so, explain to Trading 212 exactly how much has been invested in this year's ISA (£19.1k ish), and ask them to detail how and why they believe you have exceeded the £20k allowance.

golfaddick · September 3

bobmunro said:

Carter said:

Here's one for the pros

I've done relatively well in my own investments, learning from you lot and a lot of mistakes on my part, lots of reading, listening, watching etc

Anyway. I've gotten to the point the sum I have accrued is more than I trust myself with and have instructed an IFA to take over my fund and handle my investments through the ISA shield transferring from my Trading 212 ISA to them

I have about 900 left of this year's ISA allowance as head room but I've had a notification from 212 telling me the transfer will take me over the allowance. I don't want to be crass and say the amount but what I have built up is over 2 years worth of the ISA max. Now I know any dividends or growth made within the shield of a stocks and shares ISA doesn't count towards your allowance yet I have a feeling 212 are being overly officious when they have no right to be.

I transferred into 212 this year from another ISA I had to use to move an employee share scheme into an EQI one as they are the people who handle the share scheme (shite platform by the way) so I transferred from EQI to 212 an amount of about 10k. In addition I'd managed to put 7k in this year and have continued to invest each month but 212 thought I still had £11k left when I don't. So I understand there being a bit of confusion as I'm relying on my own sums to stay ISA compliant but now this fuckery is preventing me from transferring to the IFA funds

How, and what words do I need to use to go about resolving this? The IFA are fingerprint financial, the provider platform will be Aviva

If you haven't already done so, explain to Trading 212 exactly how much has been invested in this year's ISA (£19.1k ish), and ask them to detail how and why they believe you have exceeded the £20k allowance.

This.

Also (if I'm reading it right) you are transferring monies from one platform to another. If so then money transferred doesn't count as part of your 20k annual allowance.

Also, you should be investing in a "flexible" ISA, which means any money taken out during the tax year can be replaced during the same tax year without being counted towards your allowance. I've got clients who have had to take out £60k to help fund a house purchase, and then repaid it back in again 6 months later once monies elsewhere were released.

Get your IFA onto it. Thats what you pay them for.

Carter · September 3

golfaddick said:

bobmunro said:

Carter said:

Here's one for the pros

I've done relatively well in my own investments, learning from you lot and a lot of mistakes on my part, lots of reading, listening, watching etc

Anyway. I've gotten to the point the sum I have accrued is more than I trust myself with and have instructed an IFA to take over my fund and handle my investments through the ISA shield transferring from my Trading 212 ISA to them

I have about 900 left of this year's ISA allowance as head room but I've had a notification from 212 telling me the transfer will take me over the allowance. I don't want to be crass and say the amount but what I have built up is over 2 years worth of the ISA max. Now I know any dividends or growth made within the shield of a stocks and shares ISA doesn't count towards your allowance yet I have a feeling 212 are being overly officious when they have no right to be.

I transferred into 212 this year from another ISA I had to use to move an employee share scheme into an EQI one as they are the people who handle the share scheme (shite platform by the way) so I transferred from EQI to 212 an amount of about 10k. In addition I'd managed to put 7k in this year and have continued to invest each month but 212 thought I still had £11k left when I don't. So I understand there being a bit of confusion as I'm relying on my own sums to stay ISA compliant but now this fuckery is preventing me from transferring to the IFA funds

How, and what words do I need to use to go about resolving this? The IFA are fingerprint financial, the provider platform will be Aviva

If you haven't already done so, explain to Trading 212 exactly how much has been invested in this year's ISA (£19.1k ish), and ask them to detail how and why they believe you have exceeded the £20k allowance.

This.

Also (if I'm reading it right) you are transferring monies from one platform to another. If so then money transferred doesn't count as part of your 20k annual allowance.

Also, you should be investing in a "flexible" ISA, which means any money taken out during the tax year can be replaced during the same tax year without being counted towards your allowance. I've got clients who have had to take out £60k to help fund a house purchase, and then repaid it back in again 6 months later once monies elsewhere were released.

Get your IFA onto it. Thats what you pay them for.

Thats it

The 212 ISA is a flexible ISA, the EQI one was started and transferred this year so does count towards this years overall allowance. The weird this is 212 I guess have assumed the EQI ISA I transferred in was from a previous year so would not count towards this years allowance but they have then decided that not only does it count, they are doing some fag packet maths and have decreed they are the arbiter of keeping me compliant when ironically were I to stick to their remaining allowance figures I would be very non-compliant

I shall do exactly what you said. The IFA are being paid, they are the experts and they have all my workings out and receipts. They can chase and resolve

Nothing against the 212 platform, its easily the best one I found, zero fees and very (up until I wanted to transfer out rather than in) user friendly

I'll continue to do my national league wolf of wall street with my pies but outside of the ISA and now all my money is with someone else I won't be troubling the CGT limit anytime soon

Rob7Lee · September 4

CAFCsayer said:

A lot of people on here seem to have a lot of premium bonds and everyone seems to be yielding 2-3%... I'm a gambling man, but the odds seem massively stacked against you and the average yield is shite. Why do people hold them?

I'm not being facetious, that's a genuine question

Winnings are tax free, so if you have used up your ISA allowance it's the only 'interest' for want of a better word thats tax free. My rolling 12 months is just under 3.5% but grossed up thats over 6% for me if you take into account taxation I would have in a bank.

Rob7Lee · September 4

Carter said:

golfaddick said:

bobmunro said:

Carter said:

Here's one for the pros

I've done relatively well in my own investments, learning from you lot and a lot of mistakes on my part, lots of reading, listening, watching etc

Anyway. I've gotten to the point the sum I have accrued is more than I trust myself with and have instructed an IFA to take over my fund and handle my investments through the ISA shield transferring from my Trading 212 ISA to them

I have about 900 left of this year's ISA allowance as head room but I've had a notification from 212 telling me the transfer will take me over the allowance. I don't want to be crass and say the amount but what I have built up is over 2 years worth of the ISA max. Now I know any dividends or growth made within the shield of a stocks and shares ISA doesn't count towards your allowance yet I have a feeling 212 are being overly officious when they have no right to be.

I transferred into 212 this year from another ISA I had to use to move an employee share scheme into an EQI one as they are the people who handle the share scheme (shite platform by the way) so I transferred from EQI to 212 an amount of about 10k. In addition I'd managed to put 7k in this year and have continued to invest each month but 212 thought I still had £11k left when I don't. So I understand there being a bit of confusion as I'm relying on my own sums to stay ISA compliant but now this fuckery is preventing me from transferring to the IFA funds

How, and what words do I need to use to go about resolving this? The IFA are fingerprint financial, the provider platform will be Aviva

If you haven't already done so, explain to Trading 212 exactly how much has been invested in this year's ISA (£19.1k ish), and ask them to detail how and why they believe you have exceeded the £20k allowance.

This.

Also (if I'm reading it right) you are transferring monies from one platform to another. If so then money transferred doesn't count as part of your 20k annual allowance.

Also, you should be investing in a "flexible" ISA, which means any money taken out during the tax year can be replaced during the same tax year without being counted towards your allowance. I've got clients who have had to take out £60k to help fund a house purchase, and then repaid it back in again 6 months later once monies elsewhere were released.

Get your IFA onto it. Thats what you pay them for.

Thats it

The 212 ISA is a flexible ISA, the EQI one was started and transferred this year so does count towards this years overall allowance. The weird this is 212 I guess have assumed the EQI ISA I transferred in was from a previous year so would not count towards this years allowance but they have then decided that not only does it count, they are doing some fag packet maths and have decreed they are the arbiter of keeping me compliant when ironically were I to stick to their remaining allowance figures I would be very non-compliant

I shall do exactly what you said. The IFA are being paid, they are the experts and they have all my workings out and receipts. They can chase and resolve

Nothing against the 212 platform, its easily the best one I found, zero fees and very (up until I wanted to transfer out rather than in) user friendly

I'll continue to do my national league wolf of wall street with my pies but outside of the ISA and now all my money is with someone else I won't be troubling the CGT limit anytime soon

There's no CGT on ISA's.

The trading 212 App shows how much you have paid in, how much of your allowance is left, also shows withdrawals and funds that can be replaced.

I'm assuming you are trying to pay in the £900 and they are saying no? But sounds like you know why as you also put money into the EQI one this year?

CAFCsayer · September 4

I don't really see the because winnings are tax free/already maxed out ISA argument though, surely if you're not beating inflation then you're losing money. Surely makes much more sense to be long a basket of equities, bonds and commodities, despite not having a tax wrapper

Carter · September 4

Rob7Lee said:

Carter said:

golfaddick said:

bobmunro said:

Carter said:

Here's one for the pros

I've done relatively well in my own investments, learning from you lot and a lot of mistakes on my part, lots of reading, listening, watching etc

Anyway. I've gotten to the point the sum I have accrued is more than I trust myself with and have instructed an IFA to take over my fund and handle my investments through the ISA shield transferring from my Trading 212 ISA to them

I have about 900 left of this year's ISA allowance as head room but I've had a notification from 212 telling me the transfer will take me over the allowance. I don't want to be crass and say the amount but what I have built up is over 2 years worth of the ISA max. Now I know any dividends or growth made within the shield of a stocks and shares ISA doesn't count towards your allowance yet I have a feeling 212 are being overly officious when they have no right to be.

I transferred into 212 this year from another ISA I had to use to move an employee share scheme into an EQI one as they are the people who handle the share scheme (shite platform by the way) so I transferred from EQI to 212 an amount of about 10k. In addition I'd managed to put 7k in this year and have continued to invest each month but 212 thought I still had £11k left when I don't. So I understand there being a bit of confusion as I'm relying on my own sums to stay ISA compliant but now this fuckery is preventing me from transferring to the IFA funds

How, and what words do I need to use to go about resolving this? The IFA are fingerprint financial, the provider platform will be Aviva

If you haven't already done so, explain to Trading 212 exactly how much has been invested in this year's ISA (£19.1k ish), and ask them to detail how and why they believe you have exceeded the £20k allowance.

This.

Also (if I'm reading it right) you are transferring monies from one platform to another. If so then money transferred doesn't count as part of your 20k annual allowance.

Also, you should be investing in a "flexible" ISA, which means any money taken out during the tax year can be replaced during the same tax year without being counted towards your allowance. I've got clients who have had to take out £60k to help fund a house purchase, and then repaid it back in again 6 months later once monies elsewhere were released.

Get your IFA onto it. Thats what you pay them for.

Thats it

The 212 ISA is a flexible ISA, the EQI one was started and transferred this year so does count towards this years overall allowance. The weird this is 212 I guess have assumed the EQI ISA I transferred in was from a previous year so would not count towards this years allowance but they have then decided that not only does it count, they are doing some fag packet maths and have decreed they are the arbiter of keeping me compliant when ironically were I to stick to their remaining allowance figures I would be very non-compliant

I shall do exactly what you said. The IFA are being paid, they are the experts and they have all my workings out and receipts. They can chase and resolve

Nothing against the 212 platform, its easily the best one I found, zero fees and very (up until I wanted to transfer out rather than in) user friendly

I'll continue to do my national league wolf of wall street with my pies but outside of the ISA and now all my money is with someone else I won't be troubling the CGT limit anytime soon

There's no CGT on ISA's.

The trading 212 App shows how much you have paid in, how much of your allowance is left, also shows withdrawals and funds that can be replaced.

I'm assuming you are trying to pay in the £900 and they are saying no? But sounds like you know why as you also put money into the EQI one this year?

I've probably done a bad job of describing it here

No, they (212) would let me pay another £11k in as I think they are working things out as if the EQI ISA was not part of this year's allowance which it absolutely is. Thats where its bending my head with them saying the limit has been exceeded. I absolutely have headroom of at least £900, the 212 app thinks i have £11k.

What the plan is with the money I have given to the IFA is for that to all be done by them within the S&S ISA allowance so once the transfer to them goes through I won't be able to do anything in 212 within an ISA as that will be me operating over the ISA allowance so I'll just be running my own pies on the Invest profile and starting from zero again.

Rob7Lee · September 4

CAFCsayer said:

I don't really see the because winnings are tax free/already maxed out ISA argument though, surely if you're not beating inflation then you're losing money. Surely makes much more sense to be long a basket of equities, bonds and commodities, despite not having a tax wrapper

It’s individual circumstances, I’m heavily loaded on Stocks and Shares in SIPP and ISA (as is my wife), I don’t want anymore, especially as my latest deal at work comes with a lot of stock.

so for holding cash I have basically two options, 1 is a savings account where I’ll pay 45% on any interest, or I can hold premium bonds. If I achieve the headline rate or near, I’d need a savings account paying north of 7%. Granted there is the risk I have a bad year, but then again I may have a really good year!! My daughter has about £25k in PB’s, always seems to get or beat the headline rate and less than 2 years ago had a £5k win. I suspect her average over 5 years is about 8% per annum.

additionally I’m getting old! So I don’t necessarily have the same view of risk I did 10+ years ago.

its risk reward, plus we all dream of winning big!!

robinofottershaw · September 4

CAFCsayer said:

I don't really see the because winnings are tax free/already maxed out ISA argument though, surely if you're not beating inflation then you're losing money. Surely makes much more sense to be long a basket of equities, bonds and commodities, despite not having a tax wrapper

We had a similar debate on here a week ago in relation to taking the max £268k tax free out of a pension and not necessarily reinvesting it in stocks and shares.

Everyone has different circumstances. Some individuals are in an accumulation phase of life where they are eager to build and maximize portfolio values. Others may have achieved that, have more than enough to live on, and don’t need to maximize value on every element of their investments. Therefore, optimizing the gain on a further £50k is not material to them. So, if they can achieve 3.5% tax free (equivalent to £6.4%) as I think Rob7Lee said and have a bit of fun, maybe that suits their circumstances.

holyjo · September 4

Hi - just so I understand it. If I have money in my pension wrapper can I within the same company transfer some into an ISA wrapper without cost or using my annual allowance

Rob7Lee · September 4

holyjo said:

Hi - just so I understand it. If I have money in my pension wrapper can I within the same company transfer some into an ISA wrapper without cost or using my annual allowance

You cannot perform a ‘transfer’ between pension and ISA, two very separate things.

Photollery · September 4

I’m getting old, but I’ve basically been retired for a couple of years now, I’m 54.
I will ask a few pension related questions in the future, as I will need to finally look at my final salary pension.

I’ve avoided this thread for a while (other then PB’s), as it’s too complicated for us to have shares etc, my wife is a Senior Partner at the best of the big four (12 years younger than me).

Very interesting reading and it’s good to know CAFC have so many intellectual and interesting fans.

PragueAddick · September 4

@CAFCsayer Premium bonds are a little flutter for people who are not gamblers. Of course it would be daft to make them more than about 10% of a portfolio even for boomers who are cashrich. But the other attraction is that you have a feeling that you are somehow supporting the nation by investing in them – and unlike high interest bank accounts, protection provided is unlimited.

Oh and current yield ( on average, not guaranteed) is 4.3%. Not much less than 10 year gilts.

i would imagine the number of crypto-bros who also hold significant PBs is close to zero😉. But I think the person who dreamed PBs up should be recognised by the nation. Its a work of genius.

Diebythesword · September 4

holyjo said:

Hi - just so I understand it. If I have money in my pension wrapper can I within the same company transfer some into an ISA wrapper without cost or using my annual allowance

No. You can transfer your workplace pension into a SIPP (self invest personal pension), however the same rules around accessing that money applies. You can’t transfer a pension into an isa wrapper

Arsenetatters · September 7

I’m looking to switch a stocks and shares ISA to a cash ISA at some point. Is now a good time?

LargeAddick · September 7

Arsenetatters said:

I’m looking to switch a stocks and shares ISA to a cash ISA at some point. Is now a good time?

I'd have a cuppa and leave it till at least 10am 😁

Rob7Lee · September 7

Arsenetatters said:

I’m looking to switch a stocks and shares ISA to a cash ISA at some point. Is now a good time?

Markets are pretty high, if over 65 I don’t think a huge rush (but depends when you want to spend it) if under 65 best to do before April/new tax year.

I’ll likely switch some of my wife and mine before April.

Arsenetatters · September 7

Rob7Lee said:

Arsenetatters said:

I’m looking to switch a stocks and shares ISA to a cash ISA at some point. Is now a good time?

Markets are pretty high, if over 65 I don’t think a huge rush (but depends when you want to spend it) if under 65 best to do before April/new tax year.

I’ll likely switch some of my wife and mine before April.

Thank you
ill get switching. I’m guessing it’s easier to switch it to a cash one of the same place?edit
im after one that does monthly payments for income.

Over 65?!!!! Good grief man I’m only 62!!!

golfaddick · September 7

Arsenetatters said:

Rob7Lee said:

Arsenetatters said:

I’m looking to switch a stocks and shares ISA to a cash ISA at some point. Is now a good time?

Markets are pretty high, if over 65 I don’t think a huge rush (but depends when you want to spend it) if under 65 best to do before April/new tax year.

I’ll likely switch some of my wife and mine before April.

Thank you
ill get switching. I’m guessing it’s easier to switch it to a cash one of the same place?edit
im after one that does monthly payments for income.
Over 65?!!!! Good grief man I’m only 62!!!

If you are just looking to take income rather than needing to take a lump sum to spend then you could keep it invested & simply take income from your S&S ISA. It's a bit like pound cost averaging in reverse. And you are also not having to worry if you've "sold out" at the right time.

Savings and Investments thread

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