fyi guys, they came back to me today regarding bc fund
Dear *****
Thank you for your enquiry.
Unfortunately this investment is not included in our regular investment service. You can still manually invest in to it each month for the same fee, but as things stand it isn’t possible to set this up as a regular investment.
I do apologise that we are unable to work around this for you, but if you have any further queries, please feel free to contact us.
Yours sincerely
Riyad Finch
Thanks for passing on this info. I hope this will be fixed in near future.
I would just buy the kids bitcoin. there are 8 decimal places - even if it is 25bucks a month - esp if you are looking mid-long term you will far outstrip 5-10% gains, inshaAllah
how do you deal with tax implications of this when you have three kids and delve yaself into it… im new to it only started myself recently so curious
i’m not au fait with UK’s tax system so not sure but here in Oz it is considered a capital asset rather than a currency tax-wise so is subject to capital gains tax when it is converted back to fiat, which after 1yr of holding comes with a discounted rate. im sure there would be a tax advisor there that can help clarify that eventuality for you and your specific circumstances.
Assalamualaikum Zeshaan, sorry to jump in the post. I found ur post very helpful but i m tollay unaware of all these investment terms. I have three Junior ISA in a building society which was open by govt when my child born. But now i want to tranfer it sharia compliance platform. Plz can u guide me and suggest only 1 specific platform and explain me how to invest there.
I have my account in Shepherd’s friendly.
Eagerly waiting for your reply
Thanks
walikum as salam,
A platforform is not really halal/haram. Its just like your current bank account. All you need to make sure that you let the platform providor to not credit any interest on the cash balance in your account and that should be fine.
The important thing is the underlying investments where you are invested. these must be shariah compliance. HSBC global islamic index fund is a popular one for long term investement. Suggest you open an account with AJ bell and their team will help you transferring the existing ISA from your current provdor to theirs.
Hope that helps.
Regards
Zeeshan