From 6th April 2017 the annual ISA allowance stands at £20,000 for the 2017/2018 Tax Year.
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.
To find out more about the possibilities of carrying out a 'Bed & ISA' from your Beaufort stockbroking account into an ISA, please contact your broker.
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’ approach we will happily execute your transactions accurately and swiftly through a Beaufort Online Share Dealing ISA account. 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 the 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 on how to achieve their investment objectives. All you need is to speak to them – why not give us a call .
To summarise there are two ways to operate your ISA Account.
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 client, it only takes seconds to apply for a Stocks & Shares ISA account by logging into your portfolio via our website and going to the 'My Details' section of your account.
If you don't already hold an account with Beaufort you can apply for a Stocks & Shares ISA account now, simply by clicking on one of the buttons below to be taken directly to our Advisory and Online ISA account application forms which both takes fewer than 5 minutes to complete...
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 ISA Transfer Form.
Please send the completed ISA Transfer Form to:
Beaufort Securities Ltd
63 St Mary Axe
There are no annual management fees for holding a Beaufort Advisory or Online Stocks & Shares ISA and our standard dealing commissions for these account types apply. Find out more about our Advisory and Online services.