ISA Guide 2014
Make the most of your 2014 ISA allowance
What is an ISA? | How much is the ISA allowance? | How can you use your ISA? | ISA transfers | Invest early
ISAs (Individual Savings Accounts) are one of the only means of investing without having to give a cut of the profits to the taxman.
What is an ISA?Investing in an ISA means you pay no income or capital gains tax on any returns you make. An ISA is not a type of investment; it is an amount of money that you can protect from tax each year. Where you invest this money is up to you. How much is the ISA allowance?For the 2014/2015 tax year, the ISA allowance is £15,000 - all of this can be placed in an investment ISA or a cash ISA, or you may divide the allowance between the two types of ISA as you wish. The ISA allowance is per person (age limit is over 16 for cash ISAs and over 18 for stocks and shares ISAs). |
How can you use your investment ISA allowance?
Most investments are allowable within an ISA; these include investment funds, structured investments, Exchange Traded Funds and passive investments.
See the table below for our selections of the latest investment ISAs available:
Provider | Plan Name | Counterparty | ISA Option | Term | Maximum Potential Income | More Info |
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FTSE 100 Defensive Income Plan | Investec Bank Plc | 8 years | 7.20% per annum | More Info > | ||
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FTSE Monthly Contingent Income Plan | Natixis | Up to 10 years | 6.00% per annum | More Info > | ||
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Provider | Plan Name | Counterparty | ISA Option | Term | Maximum Potential Return | More Info |
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FTSE 100 Enhanced Kick Out Plan | Investec Bank plc | Up to 6 years | 10% per annum | More Info > | ||
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10:10 Plan | Natixis | 10 years | 11% per annum | More Info > | ||
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FTSE 100 Step Down Kick-Out Plan | Investec Bank plc | Up to 6 years | 7.25% per annum | More Info > | ||
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Product Name | ISA Option | Income Yield | More Info | |
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Henderson Strategic Bond | 5.7% | More Info > | ||
Newton Asian Income | 5.43% | More Info > | ||
Newton Higher Income | 5.4% | More Info > |
**Historic Yield reflects distributions declared over the past 12 months as a percentage of the mid-market price of the fund.
*** This is the target yield the fund aims to achieve per year, it is not guaranteed and could change according to prevailing market conditions. The target yield is net of basic rate tax.
Information correct as at 08/02/2012.
The value of investments and any return from them can fall as well as rise and you may not get back the full amount invested. Please ensure that you read the Important Risk Information below.
ISA transfers
Transferring previous years’ ISA savings into an ISA account with higher returns could significantly boost any tax-efficient returns you receive. Transferring is easy, but you must make sure that you transfer properly.
If you encash your previous years’ ISA allowances they will lose their tax exempt status and you will undo your previous good work. All you need to do is request a transfer form for the new account, fill it in, and your new ISA provider should do the rest for you.
You may wish to consolidate any existing ISAs into one new ISA account to maximise any increased returns, but there are a couple of things you need to take into account, including whether the combined amount takes you over the £85,000 Financial Services Compensation Scheme (FSCS) savings limit for one financial institution or not.
Another thing to bear in mind is that you can transfer your existing cash ISAs into stocks & shares ISAs, but not the other way round.
Invest early
The earlier you invest your ISA allowance in a tax year, the more time for your investment to generate returns, protected from tax.
If you are not happy with the returns you are making on your existing ISA investments, you can transfer them into something new without losing the protective tax wrapper.
Ideas for your ISA
There is a wide range of options to choose from for investing and saving using your ISA allowance. As well as cash ISAs, investment or stocks and shares ISAs include investment funds specialising in sectors, investing globally or in corporate bonds, as well as structured investment plans which offer potential defined returns linked to the performance of a market, such as the FTSE 100 Index, over fixed terms.
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested.
Investments in Stocks & Shares ISAs do not contain the same degree of capital security as investments in deposits. Stocks and shares ISAs are designed as medium to long term investments of, for example, five years or more. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.
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