ISAs & Tax-free Savings

A question about : Tell us you cash ISA questions

Hi folks,

We've just updated our Cash ISA guide to include FAQs at the end. We'd love to know if we've missed anything so if you've got an ISA question we've not already answered, post it below and we'll try to help.

Thank you

MSE Sally

A question about : Help-Too much invested in two share ISA's in error

Hi to MSE forum,

I wonder if anyone can help....

After a life on a low to middling income, after my mum's death I am looking into share trading. I've done lot's of research....however, this hasn't prevented a few early mistakes. I find that, after opening two share trading ISA's I have invested over the yearly limit.

A question about : Treatment of income units within an ISA

Let's say that a number of units from a unit trust are held within an ISA, with a mixture of Accumulation units and Income units.

Would all the income from the income units be treated as free from income tax?

Would the situation change if they were to be held on account or immediately reinvested and would such a reinvestment count towards the annual subscription limit?

I'm sure this is fairly basic, but I'm struggling to get my head around it!

A question about : Interest Rates

Can any one explain how the interest rates work. I took out a Regular Savings account with HSBC which finished in November. The interest rates advertised was 6% AER. I invested Ј2550 during the previous 12 months and I only received Ј60.36 interest how is this?

A question about : savings for 18 yr old son

Hi all, I am new to this site so forgive me for my ignorance. My 18 yr old son has Ј2500 left from an inheritance, currently, I have control of this. He is working full time and I need to change his account from nationwide smart account soon. Whilst we still need some access to the cash, its not ever immediate. Where should we put it now he is 18 and paying tax? Many thanks all x

A question about : Chesire ISA

I had a Cheshire ISA that was moved to Nationwide in October last year, the product was renamed Direct Cash ISA 3. The bonus period runs out on the Cheshire account this month. A silly question but will Nationwide be using the same bonus periods as the Cheshire product, I cant find information about the Direct Cash ISA 3

A question about : Tax Paid in an S&S ISA

I thought i understood how tax was paid in an ISA when it concerns investments in Funds. Bascially I thought in some funds mainly equity income, their was a 10% tax non refunable. This is clear, however since changing to a new broker, who helpfully show a tax breakdown for each fund dividend i get, I am even more confused.

Their seems to be a total mix, i have some pay 0%, some 10% and some 20%, not sure where this 20% tax came from. I wonder if I get that paid back to me as a tax refund or just 10% of it.

A question about : AXA self investor

Yesterday I registered with Axa with the intention of opening it's self investor stocks and shares isa. I still haven't received my username by email, I've tried clicking forgot my username twice too and still no email contact.

Their phone lines are shut until Monday, anyone else had this problem? And anyone know if there's a set format for usernames with Axa so I can have a guess?

Many thanks!