| ISAs - some basic questions [message #377716] |
Di, 04 April 2006 01:50 |
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Hi all,
I have a Maxi ISA with Virgin, which I've had since 2001. This has a
cash component and a stocks and shares component.
What is my position with regards to opening other ISAs with other
providers? Is it OK to do that? Do I need to transfer my existing ISA
somehow?
TIA
--
Grunff
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| Re: ISAs - some basic questions [message #377721 ] |
Di, 04 April 2006 08:27 |
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Grunff wrote:
> Hi all,
>
> I have a Maxi ISA with Virgin, which I've had since 2001. This has a
> cash component and a stocks and shares component.
>
> What is my position with regards to opening other ISAs with other
> providers? Is it OK to do that? Do I need to transfer my existing ISA
> somehow?
As long as you haven't paid any money into Virgin this year, there is no
problem. You don't need to transfer your existing ISA.
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| Re: ISAs - some basic questions [message #377723 ] |
Di, 04 April 2006 09:32 |
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If you are paying in this on a regular basis (i.e. monthly), then you
need to stop now and start a new one with a new provider in the 2006/7
tax year.
If you pay =A31 into a mini-cash or mini-stocks and shares ISA after 6
April, then you cannot open another of these with a new ISA provider
(although you can transfer these between providers).
If you not paid anything since 2001, you can do pretty much what you
want.
Jonathan Bryce wrote:
> Grunff wrote:
>
> > Hi all,
> >
> > I have a Maxi ISA with Virgin, which I've had since 2001. This has a
> > cash component and a stocks and shares component.
> >
> > What is my position with regards to opening other ISAs with other
> > providers? Is it OK to do that? Do I need to transfer my existing ISA
> > somehow?
>
> As long as you haven't paid any money into Virgin this year, there is no
> problem. You don't need to transfer your existing ISA.
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| Re: ISAs - some basic questions [message #377727 ] |
Di, 04 April 2006 10:12 |
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Jonathan Bryce wrote:
> As long as you haven't paid any money into Virgin this year, there is no
> problem. You don't need to transfer your existing ISA.
Thanks Jonathan and Neil.
Do the Cash and Stocks & Shares components get treated separately? Can I
continue paying into the Stocks & Shares component of my Virgin ISA, but
not pay into the Cash component, and start another Cash Mini ISA elsewhere?
--
Grunff
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| Re: ISAs - some basic questions [message #377732 ] |
Di, 04 April 2006 12:02 |
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As far as I am aware, these are seperate components - i.e. you should
be able to use the Mini Stocks & Shares ISA with Virgin, then do a mini
Cash ISA elsewhere.
However, I don't know exactly how Virgin structure their products, so
it would'nt hurt to check with them first.
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| Re: ISAs - some basic questions [message #377734 ] |
Di, 04 April 2006 12:21 |
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neil [at] invidion.co.uk wrote:
> As far as I am aware, these are seperate components - i.e. you should
> be able to use the Mini Stocks & Shares ISA with Virgin, then do a mini
> Cash ISA elsewhere.
>
> However, I don't know exactly how Virgin structure their products, so
> it would'nt hurt to check with them first.
Thanks, I've checked with Virgin, and they say that I can't do that -
but they will open Mini Stocks & Shares ISA for me for this year, so I
can use that in addition to a Mini Cash ISA from another provider.
--
Grunff
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