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Self Select ISAs

Self-Select ISAs allow you to buy and sell shares but any capital gains are tax-free. In addition, there is no Income Tax liability on income received within an ISA with opportunities to select investments that pay interest gross.

There is no doubt that an ISA is one of the best places to 'house' your long-term investments and an excellent opportunity to build up a sizable portfolio as part of retirement planning or as a potential legacy for children and grandchildren - they really should not be overlooked!

What are the benefits?

  • £10,200 annual ISA allowance.
  • FREE from capital gains tax (CGT).
  • No further Income Tax liability on income received.
  • Interest paid gross on Gilts, Bonds and PIBs.
  • Dividends paid gross on some Exchange Traded Funds/Commodities.
  • Property Income Distributions (PIDs) from REITs are paid gross.
  • Quarterly income service available.
  • Transfer-in existing ISAs (inc Cash ISAs) ∼ save fees.

What are the risks?

The risk of your ISA will largely be determined by the stock market investments you wish to put into it, as defined by your attitude to risk and your investment objectives.

Do you opt for a Cash ISA or go for the higher risk/higher expected return Stocks and Shares ISA? Whilst Cash ISAs can be attractively simple, your hard earned money is still at risk of inflation and offers little in the way of real growth prospects. The potential of the stock market is much greater - despite frequent rises and falls, over the long-term shares have consistently outperformed cash.

If you are nervous of today's volatile markets, there are a variety of safer investment options available and you can even hold cash now and move it into the markets later, when you feel more confident.

The risk is that you fail to use your current annual allowance as you cannot make subscriptions for retrospective tax years.

How much does it cost?

The annual administration charge is £60 + VAT.

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

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 (£10,200 for 20010/11 tax year). Over time though, modest investments can grow into a sizable portfolio, and in selling their investments (e.g. to buy a property or perhaps pay for medical care), they can be liable to a hefty CGT bill. Holding investments like this within an ISA from the outset could save you thousands of pounds.

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Under our Advisory or Discretionary Management services, your ISA can be incorporated to a wider portfolio designed to meet your personal investment objectives.

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