With Profits ISA - is it time for you to switch?
On 6 April 2008, the Government made a number of changes to the
way Individual Savings Accounts (ISAs) and Personal Equity Plans
(PEPs) work. The main impacts of these changes are:
Mini and maxi ISAs no longer exist
The annual ISA investment allowance was raised
to £7,200
PEP accounts automatically become stocks and
shares ISAs
TESSA only ISAs (TOISAs) automatically become
cash ISAs
Cash ISAs can now be transferred into stocks
& shares ISAs
For many, the key change will be the
opportunity to transfer money saved during the current and previous
tax years into the Wesleyan With Profits ISA. For current tax year
investments, the whole amount saved up to the day of the transfer
must be carried across and will count towards your ISA
allowance.
However, transfers from previous tax years do
not affect your current tax year ISA allowance. So you can make the
most of your tax-efficient investments from previous tax years and
still invest up to £7,200 in the current tax year into the Wesleyan
With Profits ISA.
Please use this link
for more information on the Wesleyan With Profits ISA.
You can download the With Profits ISA pack
below or alternatively, if you would like to request a With Profits
ISA direct application pack use this link to complete the online form.