'ING rubbish!

Just got a letter from ING. Seems that since the Bank of England has reduced the interest rates they have reduced the rate on my ISA to 4.25%. That is rubbish! It is probably below the rate of inflation. Obviously the multi-billion dollar handout from the Dutch government hasn't made ING feel particularly generous.

Must look for better investment...

Investing

I thought I should start acting maturely and look to the future, so with the end of the tax year looming, I have opened an ISA. To be honest, I still find some of the ISA stuff a bit confusing. However after looking at a few options, then getting bored looking at these options, I opted for an ISA with ING. It wasn't necessarily the best rate, but it seemed to be the most convenient for someone who isn't really sure what they are doing with their money. Because the end of the tax year is looming I need to invest a lump sum (up to £7000), so have decided to take the plunge and invest... £10!

I actually started investing in shares last year (with Hargreaves Lansdown) and am doing reasonably well. At the moment I am up about 26%, although they've dropped quite a bit in the last few weeks. I think I was up between 35-40% a few weeks ago. My stocks are fairly volatile, but most are performing well so far. I will profile them here some time.

It's the shares that I don't really understand. If I sell them now do I have to pay tax on my gains? Or not because they are less than the capital gains tax allowance of £6000? Can I just transfer these shares into an ISA and they are protected?