This is a Stocks and Shares ISA that allows you to access our Unit Trust Fund range in a tax-efficient environment. There is no personal liability to pay tax on income or capital gains in the ISA and you don’t need to declare the income or gains on your tax return.
Maximum investment: For the 2017/18 tax year, the allowance for ISAs is £20,000. You can put the total amount into a Cash ISA, invest the whole lot in a Stocks and Shares ISA, or Innovative Finance ISA, or split the allowance between all three. Each individual has an ISA allowance, so if you are married or in a civil partnership, both you and your partner can make use of this tax-efficient way of investing.
Withdrawals: You are able to withdraw your investment, either by means of regular withdrawals, or on a one-off basis at any time.
Tax: Utilising your tax free ISA allowance is a must when investing to prevent tax from unnecessarily eating in to your potential returns.
For more information, contact your Wesleyan Financial Consultant, who can talk you through the key features of this product.