ISAs now surely offer a non-trivial route to shielding investments from tax, since the maximum investment has risen to £15,205 this financial year, and £20,000 next.
My daughter has a cash pile of £130,000. Surely every year she should take maximum advantage of ISA platforms.
However, I think that a reasonable investor may think that stock markets are now toppish.
So would the following strategy work?
> Put £15,240 now and £20,000 after April 6 into a cash ISA. It won't earn much but that is not the point. The point is to build up a tax-sheltered sum.
> Wait for the stock market to crash. Then move the sum from cash to shares.
Questions:
[1] Do most platforms now offer both cash and shares ISAs?
[2] If not, is transfer from one type to another relatively painless?
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