I bought some shares on the invest account on trading 212 mainly for long term ivesting, dividends. Did I make a huge mistake by not buying them on the isa account? I’m really worried i made a mistake. thanks for your help!
Depends how much it’s worth really. £2000 dvidend and ~£12,000 capital gains allowance. If you are anticipating more then yeah. ISA is generally the better option, but you can only put in £20,000 a year.
If it is for longterm then ISA is better. If you keep building up your ISA, I would hope to make more than £2000 in dividends a year and wouldn’t want it to be taxed.
Why is it a “huge” mistake though? Just sell the shares, move the money to the ISA account and rebuy them.
2 Likes
Thank you for your answer, im calmer now. i guess there is a fee for this. i have 1000 pounds on my account right now.
It’s all free. The only issue you will run into is paying the stamp duty again on UK stocks.
Edit: Just fyi also, don’t withdraw your money. Use the transfer money between accounts. It will be faster than trying to withdraw your money.
2 Likes
Thank you kind sir! Have a great day and good luck to you!
A question about this. If you sell shares in the Invest account is the money immediately available for transfer into the ISA account and for purchase there, or do you have to wait 2 days for settlement? Has anyone experience to share?
I’ve only transferred between CFD to ISA. I did not have to wait for any settlement period, but CFDs might be different.
Funds should be available instantly in the invest account when you sell them and you should be able to move them immediately.