ISAs

 
Individual Savings Accounts (ISAs) were first introduced on 6 April 1999, succeeding both the Personal Equity Plan (PEP) and the TESSA.

ISAs are not products in their own right, but are ‘wrappers’, designed to protect your investment from Capital Gains Tax (CGT) and also provide the opportunity for tax advantages on the income generated.

There are two different types of ISA, a Stocks and Shares ISA and a Cash ISA.

How much can you invest in an ISA?

Tax Year 2009/10

The annual ISA subscription allowance is £7,200.

Up to £3,600 of that allowance can be saved in a Cash ISA with one provider. The remainder of the £7,200 can be invested in a Stocks and Shares ISA with either the same or another provider. You can invest all of your £7,200 allowance in a Stocks and Shares ISA.

However, if you are aged 50 on or before 5 April 2010 your annual allowance will increase to £10,200 from 6 October 2009, with up to £5,100 in a Cash ISA. If you have already subscribed during the 2009/10 tax year but before 6 October, you can subscribe further to your ISA after that date up to the additional limit.

Tax Year 2010/11

The higher ISA allowances mentioned above apply to all investors from 6 April 2010 so your annual subscription allowance will increase to £10,200.

Up to £5,100 of this allowance can be saved in a Cash ISA with one provider. The remainder of the £10,200 can be invested in a Stocks and Shares ISA with either the same or another provider. Alternatively, you can invest all of your £10,200 allowance in a Stocks and Shares ISA.

Our range of ISAs include the following Stocks and Shares ISAs and have been designed to meet the specific needs of our clients:

Coutts Investment Management ISA

Where you have asked us to manage your investments through either a Discretionary or Advisory Investment Management Agreement, you can invest in the Coutts Investment Management ISA, which will be applied to ISA’able investments within your portfolio.

Coutts Self Select ISA

If you want to manage your own investments or choose your own investment managers, the Coutts Self Select ISA offers you a range of investments, including UK stocks and shares, unit trusts, investment trusts and bonds. You can also switch funds easily by telephone.

Coutts Tracker ISA

The Coutts Tracker ISA is designed to track the returns of the FTSE All Share Index to within 1% and provide the opportunity for long-term performance. We select a leading external fund manager to manage the fund, whose performance is regularly reviewed to ensure that they meet our requirements.

At Coutts, we strongly believe that the majority of clients should consider taking advantage of ISAs and, where appropriate, an ISA should be an integral part of your investment strategy.

Transferring existing ISAs

If you find that your existing ISAs whether cash or stocks and shares, no longer meet your objectives, you may wish to consider transferring them to a Stocks and Shares ISA at Coutts. This ensures more simplified management and paperwork, as all of your ISAs will be reported together in one statement.

Find out more

To benefit from our ISAs, you need to be a Coutts client. If you are already a client, please speak with your private banker who will discuss your requirements with you.

If you wish to become a client, please either complete our online form or contact us on +44 (0) 20 7753 1963.