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Related Topics
Home    ISAs
  • With-profits
  • Capital Investment Bonds
  • Collectives
  • Equities
  • Fixed Interest Investments
  • Introduction to Savings & Investments
  • Investment Trusts
  • Junior ISAs
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ISAs

THE VALUE OF INVESTMENTS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.

INVESTORS DO NOT PAY ANY PERSONAL TAX ON INCOME OR GAINS, BUT ISAs DO PAY UNRECOVERABLE TAX ON INCOME FROM STOCKS AND SHARES RECEIVED BY THE ISA MANAGERS.

TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE.

Individual Savings Account (ISA)

ISAs represent a tax-efficient container in which to place cash savings and investments in equities, bonds and collectives.

Introduced in 1999 as a replacement for PEPs and TESSAs, an ISA is available to all UK resident individuals over the age of 16 for cash ISAs & over the age of 18 for stocks and shares ISAs. Designed to encourage new saving they are attractive to investors seeking a tax-efficient investment vehicle with the potential for higher returns. There is usually a low level of minimum subscription and no minimum period of investment.

An ISA enables you to accumulate savings in a tax efficient manner as all gains in the hands of investors are free from tax, making them particularly attractive to higher rate taxpayers.

An ISA can contain cash deposits, investments in equities, bonds and collectives.

For the 2020/21 tax year, you can choose to pay in one of the following:

  • £20,000 to a cash ISA and nothing to a stocks & shares ISA.
  • £20,000 to a stocks and shares ISA and nothing to a cash ISA.
  • A combination of amounts between a cash and a stocks & shares ISA, up to the overall annual limit of £20,000.

You can only open one cash ISA and one stocks and shares ISA to put new money into each tax year. But you can also open other ISAs to transfer old ISAs into.

Withdrawals from an ISA can be made at any time with all gains free from tax but it is only possible to hold one ISA per tax year, so if an ISA is closed within the same tax year that it was opened, another one cannot be started until the next tax year.

ISAs can be transferred from one provider to another, as long as the new provider accepts transfers. This is often done with a cash ISA after it has been held for a year as previously attractive interest rates drop dramatically when short-term bonuses and fixed terms come to an end. The transfer is initiated through the new, receiving, provider who will require you to supply details of the original account and will manage the whole transfer process. Transfers should not be done manually by withdrawing the investment, closing the account, and re-investing it in the new account, as this removes the tax-free interest status of your investment.

The current year's allowance is unaffected by anything transferred from previous years so you can transfer previous investment to a new ISA and open a second ISA for new contributions if you wish, as long as you don't contribute to both.

INVESTMENT ENQUIRY FORM

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From time to time, we would like to contact you with details about our services, products, business updates and events. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you:

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THE VALUE OF INVESTMENTS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.

INVESTORS DO NOT PAY ANY PERSONAL TAX ON INCOME OR GAINS, BUT ISAs DO PAY UNRECOVERABLE TAX ON INCOME FROM STOCKS AND SHARES RECEIVED BY THE ISA MANAGERS.

TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE.

Individual Savings Account (ISA)

ISAs represent a tax-efficient container in which to place cash savings and investments in equities, bonds and collectives.

Introduced in 1999 as a replacement for PEPs and TESSAs, an ISA is available to all UK resident individuals over the age of 16 for cash ISAs & over the age of 18 for stocks and shares ISAs. Designed to encourage new saving they are attractive to investors seeking a tax-efficient investment vehicle with the potential for higher returns. There is usually a low level of minimum subscription and no minimum period of investment.

An ISA enables you to accumulate savings in a tax efficient manner as all gains in the hands of investors are free from tax, making them particularly attractive to higher rate taxpayers.

An ISA can contain cash deposits, investments in equities, bonds and collectives.

For the 2020/21 tax year, you can choose to pay in one of the following:

  • £20,000 to a cash ISA and nothing to a stocks & shares ISA.
  • £20,000 to a stocks and shares ISA and nothing to a cash ISA.
  • A combination of amounts between a cash and a stocks & shares ISA, up to the overall annual limit of £20,000.

You can only open one cash ISA and one stocks and shares ISA to put new money into each tax year. But you can also open other ISAs to transfer old ISAs into.

Withdrawals from an ISA can be made at any time with all gains free from tax but it is only possible to hold one ISA per tax year, so if an ISA is closed within the same tax year that it was opened, another one cannot be started until the next tax year.

ISAs can be transferred from one provider to another, as long as the new provider accepts transfers. This is often done with a cash ISA after it has been held for a year as previously attractive interest rates drop dramatically when short-term bonuses and fixed terms come to an end. The transfer is initiated through the new, receiving, provider who will require you to supply details of the original account and will manage the whole transfer process. Transfers should not be done manually by withdrawing the investment, closing the account, and re-investing it in the new account, as this removes the tax-free interest status of your investment.

The current year's allowance is unaffected by anything transferred from previous years so you can transfer previous investment to a new ISA and open a second ISA for new contributions if you wish, as long as you don't contribute to both.

INVESTMENT ENQUIRY FORM

Your Address

Investment Information

Marketing Information

Submit your Information

From time to time, we would like to contact you with details about our services, products, business updates and events. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you:

Email
Telephone
Post
Yes please, I'd like to hear about offers and services.
No thanks, I don't want to hear about offers and services.
Please tick this box to confirm you have read and understood our privacy policy.

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Moneytree Financial Solutions Ltd
Suite 2 Sutton House
Ashville Point
Sutton Weaver
Cheshire
WA7 3FW
T: 01244 555077
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Moneytree Financial Solutions Ltd is registered in England and Wales, Company Number: 06749896. Registered Address:Suite 2a Sutton House, Ashville Point, Sutton Weaver, Cheshire, WA7 3FW.

Moneytree Financial Solutions Ltd is an appointed representative of Quilter Financial Limited which is authorised and regulated by the Financial Conduct Authority.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

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