For people who have stocks and shares ISA’s how are you finding your current return
I’m usually around 25% on top of my 15% government bonus
25% on top of your 25% government return? That’s really good! Is that with Moneybox or one of the others?
I’ve got a question regarding transferring my LISA. I’m currently with Skipton but the better rate and the stocks and shares LISA with Moneybox is a better offer long term I think. However I opened mine less than 12 months ago. 1. Can I open a new LISA this tax year? 2. If I transfer it over, does this then start the 12 months again until I can use it to buy a house? Thanks.
Yes. You can’t contribute to it though. Only one LISA can be contributed per tax year.
I believe this will reset the timer as it is the age of the LISA that is critical. In this situation you’d be best opening a second and contributing only to the second LISA in the new tax year, then transferring the second newer ISA into the older LISA when you need the money.
As a sidenote, if you are planning to use the money within 12 months you don’t want to be opening a stock and shares account of any kind. It’s too volatile for that.
1 Like
Over what time period, and is that cumulative if multiple years, or annualised?
Don’t pay much heed to short term fluctuations. After many years, hitting 7% annualised would be great. If you’re with a robo-advisor, you’ll almost certainly get quite a bit less.
Thank you, very good points. I’ll stay with Skipton then.
That’s with Moneybox! 
1 Like
Over a year started round march 2018
So the total value of your Moneybox account today is greater than 50% higher than the money you invested in March 2018?
If you had invested in a fund seeking the average stock market return on the best day in March (23rd), you’d be up 22% (without the gov bonus). So Moneybox or anyone else getting around 22% would be the desired expectation. If you’d picked the worst day in March (12th), we’re talking about 14%.
Again, short term variability like this is a bit meaningless. As you can see, on a ~1 year time scale, the day you invest will likely make more of a difference to your returns than what you invest in. But over 5+ years from now, there probably won’t be a noticeable difference between day invested. Fund performance and fees will matter more, at which point Moneybox won’t looks so good comparatively.
(That said, the Moneybox cash LISA is the best thing out there, and the one to go for if buying a house in the next 5-10 years.)
2 Likes
It doesn’t reset. I moved my ISA last month and the date in which I can use it didn’t change 
1 Like
Same
1 Like
I double-checked with moneysavingexpert to see if I was going mad.
This is crucial. You need to have had the LISA open for at least 12 months to be able to use it (and the bonus) towards your first home. If you haven’t started a LISA and need to buy within a year, use a Help to Buy ISA instead.
It’s worth bearing in mind that if you open multiple LISAs, each one needs to have been open for more than 12 months to qualify. However, there’s a way around this. Simply transfer all the money into the oldest one before you buy – then it all counts.
Maybe the rules have changed?
I enquired to moneybox while I was in the process of finding a new account and they stated that as long as the entire value was transferred and the old account closed in the process then the timer doesn’t stop. Its only if a new account is created from scratch that a new timer starts for that account.
1 Like
Youve all confused the life out of me:
I currently have a Skipton Cash LISA which was opened in 2018.
I currently contribute a monthly sum to this cash LISA (so have contributed this tax year to it)
I would like to transfer this to the new moneybox one to avail of the 1.5% rate.
Are you all saying that because I’ve already added to the Skipton one this year I cannot do so?
If you transfer it in full from Skipton to Moneybox, you can do so without any problems.
4 Likes
Having never done a LISA transfer before how does that impact the pending interest and government bonuses?
Ive had mine for a while, they’ve recently opened their app up to actually function rather than giving you souly a login code. Id reccomend.
I’d ask customer support at both ends to be sure, but no doubt things will go smoother (or if may be required) if you wait until any pending transactions complete before initiating the transfer.
Transfer the whole lot from skipton to moneybox. It closes the skipton, and you haven’t lost any benefits but gained .4% over what you had with skipton (Skipton 1%, moneybox 1.4%) which doesn’t reset the date. Job done. I opened mine August last year, transferred it in July and it still matured at the same date in August.
Doesn’t. You get .4% more interest, plus the government bonus on top as usual
Pretty sure I know the answer, but is the government bonus only paid at the end of each tax year? Hoping to buy a house in the summer of 2020 so will get the government bonus for 2019/20, but what about 2020/21?