Skip to main content

  • Home
  • About Us
    • - About us
    • - Our Team
  • Services
    • - Financial Planning
    • - Protection
    • - Savings & Investments
    • - Business Protection
    • - Mortgages
    • - Equity Release
    • - Pensions
    • - Wealth Management
    • - Taxation

    Professional financial planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions about your financial future, in the short, medium and long term.Read More

    There are events we can all face that have the potential to wreck lives and families. It’s a difficult issue to think about, but imagine the impact on you and your family should the main earner in your household die or become seriously ill. It may not happen to you – we hope it doesn’t – but it might.Read More

    Often, people save for a specific reason and it's usually the safest way to build up a pot of money. It’s less risky than investing, but it offers limited growth. The most you'll earn on the money you save is the interest added. Saving is perfect for people who don’t want to take any risks with their money, and most savings accounts have easy access or are for a fixed term.Read More

    Every business needs to protect itself. For most businesses the most valuable asset it has is its people. Without them, a company’s survival could be at serious risk. With that in mind we can help you take the right steps to protect your people and your business.Read More

    Mortgages are loans which are intended to help buyers purchase residential property. When you take out a loan, the lender charges interest: the same is true of a mortgage. A mortgage is a ‘secured’ loan, which means that the loan is secured against the property being purchased until the mortgage is paid off.Read More

    If you're over the age of 55, equity release offers you a way to use the value of your home to raise money. It is advised that you seek Independent Legal advice before entering into a legally binding equity release contract.Read More

    When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance or windfall, then you need to provide yourself with a secure income for the rest of your life.Read More

    Most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die. Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser the most efficient way to arrange your finances.Read More

  • Enquiry Forms
    • - General Enquiry
    • - Mortgage Enquiry
    • - Protection Enquiry
    • - Investment Enquiry
    • - Pension Enquiry
    • - Attitude to Risk Profiler
  • Useful links
    • - Research
    • - Market Data
  • Literature
  • Privacy Policy
  • Contact Us
Menu
  • Home
  • About Us
    • About us
    • Our Team
  • Services
    • Financial Planning
    • Protection
    • Savings & Investments
    • Business Protection
    • Mortgages
    • Equity Release
    • Pensions
    • Wealth Management
    • Taxation
  • Enquiry Forms
    • General Enquiry
    • Mortgage Enquiry
    • Protection Enquiry
    • Investment Enquiry
    • Pension Enquiry
    • Attitude to Risk Profiler
  • Useful links
    • Research
    • Market Data
  • Literature
  • Privacy Policy
  • Contact Us
Related Topics
Home    ISAs

ISAs

Individual Savings Account (ISA)

ISAs represent a tax-efficient container in which to place cash savings and investments in equities, bonds and collectives.

An ISA is available to all UK resident individuals and to Crown servants (for example, those in the UK’s armed forces, diplomatic service or overseas civil service) and their spouses or civil partners who are not resident in the UK.

To open an ISA you must be over the age of 16 for cash ISAs & over the age of 18 for stocks and shares ISAs and you cannot hold an ISA with or on behalf of someone else.

Designed to encourage new saving they are attractive to investors seeking a tax-efficient investment vehicle with the potential for higher returns. There is usually a low level of minimum subscription and no minimum period of investment.

An ISA enables you to accumulate savings in a tax efficient manner as all gains in the hands of investors are free from tax, making them particularly attractive to higher rate taxpayers.

An ISA can contain cash deposits, investments in equities, bonds and collectives.

For the 2022/23 tax year, you can choose to pay in one of the following:

  • £20,000 to a cash ISA and nothing to a stocks & shares ISA.
  • £20,000 to a stocks and shares ISA and nothing to a cash ISA.
  • A combination of amounts between a cash and a stocks & shares ISA, up to the overall annual limit of £20,000.

You can only open one cash ISA and one stocks and shares ISA to put new money into each tax year. But you can also open other ISAs to transfer old ISAs into.

Withdrawals from an ISA can be made at any time with all gains free from tax but it is only possible to hold one ISA per tax year, so if an ISA is closed within the same tax year that it was opened, another one cannot be started until the next tax year.

ISAs can be transferred from one provider to another, as long as the new provider accepts transfers. This is often done with a cash ISA after it has been held for a year as previously attractive interest rates drop dramatically when short-term bonuses and fixed terms come to an end. The transfer is initiated through the new, receiving, provider who will require you to supply details of the original account and will manage the whole transfer process. Transfers should not be done manually by withdrawing the investment, closing the account, and re-investing it in the new account, as this removes the tax-free interest status of your investment.

The current year's allowance is unaffected by anything transferred from previous years so you can transfer previous investment to a new ISA and open a second ISA for new contributions if you wish, as long as you don't contribute to both.

The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
Investors do not pay any personal tax on income or gains, but isas do pay unrecoverable tax on income from stocks and shares received by the isa managers.
Tax treatment varies according to individual circumstances and is subject to change.

INVESTMENT ENQUIRY FORM

Your Address

Investment Information

Marketing Information

Submit your Information

From time to time, we would like to contact you about our products and services which we think you might be interested in. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you.

Email
Telephone
Post
Yes please, I'd like to hear about offers and services.
No thanks, I don't want to hear about offers and services.
Please tick this box to confirm you have read and understood our privacy policy.

Individual Savings Account (ISA)

ISAs represent a tax-efficient container in which to place cash savings and investments in equities, bonds and collectives.

An ISA is available to all UK resident individuals and to Crown servants (for example, those in the UK’s armed forces, diplomatic service or overseas civil service) and their spouses or civil partners who are not resident in the UK.

To open an ISA you must be over the age of 16 for cash ISAs & over the age of 18 for stocks and shares ISAs and you cannot hold an ISA with or on behalf of someone else.

Designed to encourage new saving they are attractive to investors seeking a tax-efficient investment vehicle with the potential for higher returns. There is usually a low level of minimum subscription and no minimum period of investment.

An ISA enables you to accumulate savings in a tax efficient manner as all gains in the hands of investors are free from tax, making them particularly attractive to higher rate taxpayers.

An ISA can contain cash deposits, investments in equities, bonds and collectives.

For the 2022/23 tax year, you can choose to pay in one of the following:

  • £20,000 to a cash ISA and nothing to a stocks & shares ISA.
  • £20,000 to a stocks and shares ISA and nothing to a cash ISA.
  • A combination of amounts between a cash and a stocks & shares ISA, up to the overall annual limit of £20,000.

You can only open one cash ISA and one stocks and shares ISA to put new money into each tax year. But you can also open other ISAs to transfer old ISAs into.

Withdrawals from an ISA can be made at any time with all gains free from tax but it is only possible to hold one ISA per tax year, so if an ISA is closed within the same tax year that it was opened, another one cannot be started until the next tax year.

ISAs can be transferred from one provider to another, as long as the new provider accepts transfers. This is often done with a cash ISA after it has been held for a year as previously attractive interest rates drop dramatically when short-term bonuses and fixed terms come to an end. The transfer is initiated through the new, receiving, provider who will require you to supply details of the original account and will manage the whole transfer process. Transfers should not be done manually by withdrawing the investment, closing the account, and re-investing it in the new account, as this removes the tax-free interest status of your investment.

The current year's allowance is unaffected by anything transferred from previous years so you can transfer previous investment to a new ISA and open a second ISA for new contributions if you wish, as long as you don't contribute to both.

The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
Investors do not pay any personal tax on income or gains, but isas do pay unrecoverable tax on income from stocks and shares received by the isa managers.
Tax treatment varies according to individual circumstances and is subject to change.

INVESTMENT ENQUIRY FORM

Your Address

Investment Information

Marketing Information

Submit your Information

From time to time, we would like to contact you about our products and services which we think you might be interested in. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you.

Email
Telephone
Post
Yes please, I'd like to hear about offers and services.
No thanks, I don't want to hear about offers and services.
Please tick this box to confirm you have read and understood our privacy policy.

Read less

Wealth Management

Business Protection

Financial Planning

QUICK LINKS

  • Home
  • About Us
  • Our Team
  • Research Links
  • Privacy Policy
  • Contact Us

REQUEST A CALL BACK

NEWSLETTER

CONTACT US

Clearwater Financial Planning Ltd
56 Fore Street
Kingsbridge
Devon
TQ7 1NY
T: 01548 856096
Email Us

Tax Planning is not regulated by the Financial Conduct Authority.

Clearwater Financial Planning Ltd is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, which are authorised and regulated by the Financial Conduct Authority. Quilter Financial Services Limited and Quilter Mortgage Planning Limited are entered on the FCA register (https://register.fca.org.uk/s) under reference 440703 and 440718.

Clearwater Financial Planning is registered in England and Wales, No. 05764001. Registered Office: 56 Fore Street, Kingsbridge, Devon, TQ7 1NY.

The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

© Copyright 2022 - Adviser Pro - All Rights Reserved

Design and Developed by Adviser Pro © 2022