From 1st July 2014 the annual ISA allowance increases to £15,000 from £11,880 for the remainder of the 2014/2015 Tax Year. This means if you have already invested £11,880 in your ISA since 6th April 2014 you can now invest a further £3,120 into the tax-free wrapper.
ISA stands for Individual Savings Account. It is a special type of savings account that allows your savings to grow free of tax.
Your ISA is also a personal tax shelter (also called a “tax wrapper”) The gains your savings or investments make are not subject to capital gains tax and neither the interest nor capital taken out of your ISA account is taxed.
A 'Bed & ISA' is a way of transferring shares from your standard stockbroking account into an ISA, in order to protect your profits from Capital Gains Tax. It is not possible under HM Revenue and Custom (HMRC) rules to put shares directly into an ISA. This means that to put your shares into an ISA they must be first sold, the cash transferred into the ISA and then the shares repurchased. The sale and repurchase are made at the same time to limit potential price movement.
NEW: To celebrate the increase in the annual ISA allowance to £15,000 Beaufort Securities is offering Advisory Stockbroking clients the chance to 'Bed & ISA' stock held in their stockbroking account into a Stocks & Shares ISA account at a reduced commission. Whilst the sale of stock from your stockbroking account will be carried out at your standard commission rate, the buy-back within the ISA will be carried out at a reduced flat rate commission of just £20.
To find out more about the possibilities of carrying out a 'Bed & ISA' from your Beaufort stockbroking account into an ISA, please telephone your broker on 020 7382 8300 (London) or 0117 910 5500 (Bristol).
Notwithstanding the tax benefits from saving in your own ISA the process of so doing gives you a great deal control over what happens to your savings. Many investors like to combine all their savings and investments under one umbrella making the process far easier as well as tax efficient. Finally, an ISA will give you the chance to create a portfolio to match your investment needs or objectives.
You may not need any help, guidance or advice over which savings or investments are placed in your ISA. If you are comfortable with this ‘do it yourself’ way of investing then fine we will execute your transactions accurately and swiftly. Because you are making the decisions regarding what and where to invest the service we provide is called ‘Execution Only’ because we simply execute your instructions.
On the other hand you may not have to time, the inclination or you may feel you lack the knowledge to invest in your ISA in which case why not consult our experts? Our advisory brokers are highly qualified and very experienced in advising clients how to achieve their investment objectives. All you need is speak to them – why not call them now on 020 7382 8384
To summarise there are two ways to operate your ISA Account.
Call 020 7382 8384 now!
If you are unsure as to the suitability of an ISA, we recommend you consult an independent Financial Adviser.
Although ISAs currently allow you can keep all the proceeds from your investment tax-free - there is no Income or Capital Gains Tax to pay- tax regimes are subject to future change.
If you are an existing Beaufort Securities client, it only takes a minute to apply for a Stocks & Shares ISA account by logging into your existing account via our website and going to the 'Admin' section of your account. The step-by-step video below takes you through the process.
If you don't already hold an account with Beaufort you can apply for an Advisory Stocks & Shares ISA account now, simply by clicking on the button below to be taken directly to our online ISA account application form which only takes 5 minutes to complete...
Alternatively you can call us now on 020 7382 8384 or download and complete our paper Advisory ISA Subscription Form.
Please send the completed Advisory ISA Subscription Form to:
Beaufort Securities Ltd
131 Finsbury Pavement
If you hold a number of ISA with more than one provider you could transfer them to us and save on fees. Firstly, this could save you money if you have invested with different providers or if your other provider charges a percentage fee of your overall portfolio value each year. Secondly put all your ISA’s with Beaufort and pay NO ANNUAL MANAGEMENT CHARGES.
Transfer to Beaufort today. Call us now on 020 7382 8384 or download and complete our Advisory ISA Transfer Form.
Please send the completed Advisory ISA Transfer Form to:
Beaufort Securities Ltd
131 Finsbury Pavement
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We can call you at a time convenient to you.
(Available Mon-Fri 8am - 5pm)