Stocks & Shares ISA

[RedHP]

I was looking at Selftrade earlier funnily enough.  I decided against them as their charges are too high, £1.50 per fund traded is pretty bad when everyone else is doing them for free.  I want to do regular monthly investments, so a % charge per year works out better for me.

Just opened up a HL account and set u a regular monthly investment.  Just a shame they won't make the first transaction until March! 

Sorry pal, did they say why they cannot do this until March...? I am assuming that you have opted for a Shares ISA account, so have you used any or all of your annual ISA allowance for this tax year? Unless the latter, it should not take a month to create an account (regardless of ISA or not). Sorry for the bombardment of questions but I have my Accountant's hat on 

Red

[bobbarley]

They've scheduled the first direct debit investment for 6th March, don't see why they couldn't do it for February.  Just seems like a timing thing.

[RedHP]

They've scheduled the first direct debit investment for 6th March, don't see why they couldn't do it for February.  Just seems like a timing thing.

Ok, so this is because you have elected for regular monthly installments, so now makes sense. However, they should have offered you an option to make a one-off payment beforehand. Please bear in mind that as you have opted for a Shares ISA account your annual contributions are restricted. If you have not invested, or even if have but are within limit, in any other ISA account since the start of the tax year (6th April 2012) you are losing out on an ISA contribution for this tax year which ends in a couple of months. Remember you can only add a certain annual amount to ISA's (cash, shares etc) and any benefits/profits made to these will always be tax-free, else you will have to pay Capital Gains Tax (i.e. if outside ISA spectrum)

Hope I haven't confused you 

Red

[RedHP]

Sorry guys, if you need any more advice or help on stocks/shares/funds etc, please PM me as I am a regular on the Mk6 section and I may miss any responses to this thread.
If not, my advice is to (a) research any companies and their markets and (b) spread the risk !

Red