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Stocks and Shares ISAs

Stocks and Shares ISAs allow you to buy and sell shares and any growth and returns are free from any further Income Tax liability and Capital Gains Tax.

The annual allowance is £20,000, which can be invested in cash, stocks and shares or a combination of the two. Furthermore, ISAs can be transferred between any providers.

What are the benefits?

  • £20,000 allowance for the 2017/18 tax year, which can be invested in almost anything.
  • An annual administration charge of £60 + VAT, regardless of the value of your ISA or the number of investments held.
  • You can transfer ISAs held with other providers to Redmayne-Bentley, including Cash ISAs, to create a single ISA portfolio, potentially reducing your overall costs.
  • You can withdraw and replace monies from an ISA without the replacement counting towards your annual subscription limit, as long as the withdrawal and repayment occur in the same tax year.
  • There is no further Income Tax liability for dividend income above the current Dividend Allowance of £5,000, which is reducing to £2000 in April 2018.
  • You can invest in gross income paying investments, such as fixed-interest stocks like gilts and bonds, Exchange Traded Funds (ETFs) and Commodities (ETCs), Permanent Interest Bearing Shares (PIBS) and Real Estate Investment Trusts (REITs). Income derived from these investments would normally fall under your personal savings allowance (PSA), but any investments held within an ISA do not impact upon PSA, meaning you can use it to cover other interest gained elsewhere.
  • Any gains are FREE from Capital Gains Tax (CGT).
  • A surviving spouse or civil partner can benefit from a one-off additional ISA allowance, equal to the value of the ISA at the date of death.

What are the risks?

  • You should consider if the potential tax benefits are likely to exceed the associated charges. Contact your local Redmayne-Bentley branch to discuss further.
  • Investments and income arising from them can fall as well as rise in value and you may lose some or all of the amount you have invested.
  • Tax treatment depends on the specific circumstances of each individual and may be subject to change in the future.

How much does it cost?

  • The annual administration charge is £60 + VAT, regardless of value or number of investments held within the ISA. For individuals opening a new ISA account this would be due for payment in October 2018.
  • If you have subscribed to ISAs with a number of providers over the years, you can transfer these (including Cash ISAs) to create a single pot. Consolidating ISA accounts may bring the benefits of reduced paperwork and ease of management, and also potentially cost savings. If you have ISA accounts held with other providers you can opt to transfer these accounts to Redmayne-Bentley with nothing additional to pay on your annual fee.*

* Your current provider may charge an exit fee.

Info Point

In March 2016 the firm received the accolade of 'Best ISA Provider' at the City of London Wealth Management Awards for the second consecutive year.

In 2017 we were awarded ‘Best Advisory Service’ at the City of London Wealth Management Awards

Redmayne-Bentley was named 'Best Stockbroker for Customer Service' at the Investors Chronicle and Financial Times Awards 2016 and 'Best Advisory Stockbroker' at the ADVFN International Financial Awards 2016, after also receiving this award in 2015.

In 2015 we were awarded the title of 'Best Full Service Stockbroker' at the Investors Chronicle and Financial Times Awards for the second year in a row.

For more information on our awards, please visit www.redmayne.co.uk/awards.

Consolidate your ISAs: Could You Save on Charges?
You can transfer ISAs held with other providers (including Cash ISAs) to create a single ISA portfolio with us. This may bring the benefits of less paperwork and ease of management, and potentially cost savings.

To transfer ISA accounts to Redmayne-Bentley, simply complete your details on our ISA Transfer form contained within our ISA brochure and we will do the rest for you.

Mitigating Capital Gains Tax (CGT)
We find that many of our clients don't believe they will be affected by Capital Gains Tax (CGT), thinking they will be covered by the annual allowance (£11,300 for 2017/18). However, over time, modest investments can grow into a sizable portfolio, and in selling their investments, they can be liable to a substantial CGT bill. Holding investments within an ISA from the outset could save you a considerable amount of money in the future.

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