I have had a trading 212 ISA from March 2020 and have made deposits into this year.
I intend to open a vanguard ISA for next years allowance and understand that i won’t be able to pay into my current trading 212 isa in that year.
Can i alternate the year after with the existing trading 212 ISA or would i need to open a 2nd trading 212 ISA for that years allowance (also as i understand, u wouldnt be able to pay into my vanguard one).
Furthermore, If i don’t deposit anything into my current T212 ISA next year (when i intend to actively deposit into the vanguard) am i able to buy and sell from within this without being penalised in any way? i.e liquidating stocks within to buy others?
you will only ever have 1 ISA with T212, so when you return the year after it would just deposit into the account you have right now under that years allowance. in that scenario, you stop paying into the vanguard ISA.
As long as you don’t deposit into the T212 ISA, you should have no issues with controlling the funds and shares present inside.
I have around ÂŁ1400 in uninvested funds in my T212 app which i would like to invest shortly. (This was deposited into the account last tax year). my current allowance usages for this years shows as ÂŁ0.
al
Am i ok to open the vanguard and deposit into that one solely this year and invest my (already in the t212 account ÂŁ1400)?
Your allowance will only track deposit’s made into the account since April 6th. You are free to use any funds already in the account as you wish and it won’t count against your current allowance.
This won’t cause you any problems for your new one with vanguard so long as you only deposit into the vanguard ISA.
If you wish to return to T212 next tax year, you will be fine as it will go into your existing T212 ISA using that years allowance (so make sure not to deposit any more to vanguard on that tax year).
You can bounce back and forth each tax year between your ISA’s if you wish, so long as you only deposit to just one of them.
Perfect! thanks, thats my understanding, but wanted to be 100%.
Time to buy the DIP in my T212 and open my Vanguard.
I want to just consolidate my T212 this year, sell some existing and buy some better quality with the stocks already within my T212 account whilst starting a more automated SnP500 based vanguard this year.
Cheers
