ISAs - things you need to know

Tax Benefits

  • No tax on dividend income - for any income generated by the funds you hold in your ISA, there is no tax to pay
  • No Capital Gains Tax (CGT) to pay - any sale you make will not count towards your annual CGT allowance

ISA Death Benefits

If your spouse has passed away, the value of their Stock & Shares or Cash ISA that they held can be passed on to you retaining the ISA status. This is known as an Additional Permitted Subscription (APS) and may be instigated up to 3 years after death. For more information please contact us.

Charles Stanley Investment Choices only offer Stocks & Shares ISAs. Below we have listed other ISA options you may want to consider. 

  • Cash ISA - available to anyone over the age of 16. You can invest up to £20,000 during the 2017/18 tax year. Commonly available from your bank or building society
  • Lifetime ISA - available from the 6th April 2017, it will allow those under the age of 40 to save up to £4,000 per year into either  Cash or Stocks & Shares ISAs. Be aware that the £4,000 will be treated as part of the annual ISA allowance. The government will add 25% to your contributions but crucially you will only see the benefit of this if you buy a house or withdraw the funds from the ISA after age 60. Penalties apply on early withdrawal
  • Flexible ISA - this basically means you can withdraw money from your ISA and then add it back again during the same financial year without affecting your annual allowance. Most Cash ISAs offer this flexibility but the option is not as commonplace amongst Stocks & Shares ISA providers. Aegon for example, do not offer Flexible ISAs but they are available through our in-house platform
  • Help to Buy ISA - designed for those saving for a house. Start from a lump sum of £1,200 or £200 per month up to a limit of £12,000. When completing your purchase, the government will add £1 for every £4 saved to boost your pot

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