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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 £15,240, which can be invested in cash, stocks and shares or a combination of the two. Furthermore, ISAs can be transferred between any providers.
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 2016.
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 ‘ring-fenced’ 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.
In 2015 Redmayne-Bentley was voted 'Best ISA Provider' and named 'Stockbroker of the Year 2014' at the City of London Wealth Management Awards. This followed on from the title of 'Best Full Service Stockbroker' which was awarded at the prestigious Investors Chronicle & Financial Times Awards 2014. For more information on our awards, please visit www.redmayne.co.uk/awards
2015/16 ISA limits
The allowance for a Stocks and Shares ISA has been increased to £15,240 for the current tax year.
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 (£11,100 for 2015/16). However, over time, 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 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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