Stocks & Shares ISA
Tax efficiency and flexibility - these are the keynotes of the Sheffield Mutual Stocks and Shares ISA.
One of the most popular forms of savings, ISAs offer special tax advantages which, under current legislation, allow investors to receive the proceeds of their account completely free of any tax liability.
The tax advantages are obvious - and the flexibility of our Stocks and Shares ISA is just as clear. The minimum amount you can invest in your Account is just £30 per month or a single initial premium of £300. You can add to your ISA any time during the year, providing you don't exceed the annual maximum of £7200 or £600 per month in any tax year (6 April to 5 April the following year). If you are not paying on a monthly basis by direct debit, the minimum additional investment is £100.
From 6 October 2009, the ISA subscription limit will increase to £10,200 for anyone eligible to invest in an ISA who was born on or before 5 April 1960 (that is, who will be aged 50 or over during the current tax year). Up to £5,100 of the new ISA allowance can be saved in cash ISA with one provider.The remainder of the £10,200 can be invested in a stocks & shares ISA with either the same or another provider. Alternatively, the full £10,200 can be invested in a stocks and shares ISA with one provider.
Additionally, there is no specific term for you to hold your ISA, but to take maximum advantage we do recommend that you regard this form of investment as being medium to long term.
Should you wish, you could even stop or vary the level of payments during a tax year. However not making a single payment in the whole tax year and wishing to start again would result in having to make a new application.
Download our Stocks and Shares ISA Brochure (0.3 MB)
More detailed information is available in the brochure linked above. For further details, or to make an application, please click the following link:
