97 High Street
Billericay
Essex
CM12 9AJ
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Authorised and Regulated by the Financial Services Authority
INDEPENDENT FINANCIAL ADVICE CENTRE
You should remember that past performance is not necessarily a guide to the future. Market and currency movements may cause the value of units, and the value derived from them, to fall as well as rise and you may get back less than you invested when you decide to sell your units. The tax treatment of investments and pensions is not guaranteed and may change in the future.
Your home is at risk if you do not keep up the payments on a mortgage
All of the capital growth from ISA's is tax-free and there is no personal income tax to pay. You don't even have to declare an ISA on your tax return. At the moment ISA's are available to individuals over the age of 18 who are ordinarily resident in the UK for tax purposes (a special cash ISA is available for 16 and 17 year olds).
On 6 April 2008 all Pep's automatically become stocks and shares ISA’s.
• The total amount you can currently invest in an ISA each year is £7,200. This increases to £10,200 from 6th October 2009 for anyone who is or will be over 50 by the 5th April 2010. The new limits apply to everyone from the 5th April 2009.
• The full amount can be invested in a stocks and shares ISA, either by investing directly into stocks and shares or through a fund such as an Unit Trust, OEIC etc.
Alternatively you can invest any figure up to 50% of the limit into a cash ISA and the balance into a stocks and shares ISA.
You can transfer the value of ISA investments from previous tax years, including money in cash ISA’s, into a stocks and shares ISA, in addition to the annual contribution limits.
Dividend income on shares is taxed at source which means that basic rate taxpayers no longer save tax on dividends, but higher rate taxpayers can still avoid having to pay the higher rate tax. Deposit interest and investments in Bond and Fixed Interest funds are not taxed.
Even for basic rate taxpayers who may no longer enjoy an income tax benefit, it is still normally prudent to use your ISA allowance for stock market investing provided you are not charged for the ISA 'wrapper '. Unit trust and OEIC providers, as well as fund supermarkets, rarely charge for ISA wrappers when you purchase a fund. If you do really well you avoid any capital gains tax charges that may apply outside of an ISA wrapper.
Alternatively you can invest any figure up to 50% of the limit into a cash ISA and the balance into a stocks and shares ISA.
You can transfer the value of ISA investments from previous tax years, including money in cash ISA’s, into a stocks and shares ISA, in addition to the annual contribution limits.
Dividend income on shares is taxed at source which means that basic rate taxpayers no longer save tax on dividends, but higher rate taxpayers can still avoid having to pay the higher rate tax. Deposit interest and investments in Bond and Fixed Interest funds are not taxed.
Even for basic rate taxpayers who may no longer enjoy an income tax benefit, it is still normally prudent to use your ISA allowance for stock market investing provided you are not charged for the ISA 'wrapper '. Unit trust and OEIC providers, as well as fund supermarkets, rarely charge for ISA wrappers when you purchase a fund. If you do really well you avoid any capital gains tax charges that may apply outside of an ISA wrapper.
If you are new to investing or would like help with your investment choices, please contact us. Depending on the amount of our input and the amounts to be invested, we may still be able to offer discounts on your investments.
For information on investment risk, please refer to the “Investment Objectives” set out at back of our terms of business. Click here to go to investment objectives.
Self Select & Advised ISA’s
RISK Warning You should remember that past performance is not necessarily a guide to the future. Market and currency movements may cause the value of units, and the value derived from them, to fall as well as rise and you may get back less than you invested when you decide to sell your units. The tax treatment of investments and
pensions is not guaranteed and may change in the future.
pensions is not guaranteed and may change in the future.
