It would be nice if you could choose where your roundups and cashback from the T212 Debit Card goes.
At the moment, the default Invest (GIA) account is taxable. Any dividend I make is taxable and anything I’m lucky to make a gain on is taxable (above £300 gains).
Can we please have the ability to invest our spare change and cashback into equities and hold them in the ISA instead?
At the moment, only options are to lump it and make do or sell and repurchase in the ISA.
There’s a workaround.
Empty your cashback pie once a month, and transfer to IsA.
Yes, but the initial interest is still taxable. Obviously you can only put cash into an ISA but only if you have not reached your £20,000 (net) annual limit.
Yeah but any ISA is new money. We can’t ask for interest on non isa holdings to be paid directly into an ISA, that would be tax fraud.
Are you sure about that?
Are you sure I am wrong?
You are suggesting interest earned from assets outside of a tax free ISA wrapper, can be paid into an ISA?
So in that sense, if I don’t add anything else to my ISA, I could earn 20k interest tax free?