Sunday  20 May 2012

What are the tax benefits of my ISA?


 

  • TAX FREE capital gains, so all growth within an ISA is free of capital gains tax
  • Tax efficient income, so all income received from an ISA is tax free, except the 10% tax credit on UK dividend income which cannot be reclaimed.
  • TAX FREE interest is earned within a Cash ISA
  • Withdrawals and encashments can be made at any time, subject to individual provider provisions, and are free of income tax and CGT

 

 

  • If a Stocks and Shares ISA suffers a loss, this loss cannot be offset against capital gains arising outside the ISA.
  • There is no need for an individual to tell HMRC that they have an ISA and no need
    to report any withdrawals or encashments
    to HMRC because they are tax free
  • An ISA holder who ceases to be resident and ordinarily resident in the UK can keep their ISA with its tax advantages but cannot make any further ISA contributions

Don’t miss out on these valuable tax breaks –

invest now!

 

The value of your investment can go down as well as up. Please therefore ensure that you understand the risks. If you are at all unsure about the suitability of an investment please contact us for advice. The information provided on this website does not constitute financial advice. All tips & suggestions are followed at your own risk & should be supported with your own research.
The Financial Services Authority does not regulate taxation advice.

Thomas Heald Limited is authorised and regulated by the Financial Services Authority (No 492792).
Thomas Heald Limited (FSA No.492792) and Thomas Heald Solutions Limited (FSA No.528610) are entered on the FSA Register at www.fsa.gov.uk/register/home.do.
Registered in England No: 06622318. Registered Address: 6 Feast Field, Horsforth, Leeds, West Yorkshire, LS18 4TJ.

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