INDIVIDUAL SAVINGS ACCOUNTS (ISAs) Individually crafted investment solutions

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1 INDIVIDUAL SAVINGS ACCOUNTS (ISAs) Individually crafted investment solutions

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3 01 An Individual Savings Account (ISA) is a tax-efficient investment that allows you to invest a defined amount of money each year. Depending on the amount of risk you are comfortable with, you can choose to invest in cash or in longer term investments such as stocks and shares.

4 02 The duration of your investment There is no requirement to hold an ISA for a certain period of time. However, the Brewin Dolphin ISA has been designed to be a medium to long-term investment. You are free to withdraw all or some of your investment at any time, but you should be aware that funds withdrawn cannot be replaced. You should note that the value of your investment may fall, and you may get back less than you invested. The key benefits of an ISA Any capital growth in your investment is not subject to Capital Gains Tax You can regularly withdraw income without incurring additional UK income tax An ISA enables you to invest in recognised stock markets worldwide There is none of the complicated paperwork normally associated with stock market investment If the 20% charge on interest on qualifying bonds and fixed interest stocks is deducted at source, it will be reclaimed on your behalf There is no liability for higher rates of UK income tax on dividends or interest you receive Please note: all tax benefits mentioned in this document are subject to current legislation and personal circumstances and are subject to change. The Brewin Dolphin ISA There are two main types of ISA: the Stocks and Shares ISA and the Cash ISA. At Brewin Dolphin, we offer the Stocks and Shares ISA only. If you choose this type of ISA, we are authorised by the tax authorities to invest your full annual subscription on your behalf. You can also choose to transfer to our management any existing ISAs you may have with other providers (including the transfer of your Cash ISA to our Stocks and Shares ISA). Please note that your existing ISA Manager may charge you to transfer. Your existing ISA Manager may require that your holdings are sold and the transfer is made in cash. If this is the case there may be a period of time when you are not invested. Annual limits Each tax year you can invest up to your full annual subscription limit in a Stocks and Shares ISA. It is important to remember that you cannot currently subscribe to more than one ISA of the same type in the same tax year (although you may invest separately in a Stocks and Shares ISA and a Cash ISA). This is based on current tax legislation and is subject to change. The tax advantages Any capital gains within your ISA do not attract Capital Gains Tax (CGT). Correspondingly, any losses cannot be offset against gains made outside your ISA. There is also no requirement to complete a tax return in relation to your ISA or to make lengthy and complicated CGT calculations. Any interest earned on cash held within your Stocks and Shares ISA (this is only permitted pending investment) will be subject to a flat rate charge of 20%. Your ISA Manager will deduct this amount at source and account to the tax authorities on your behalf. All references to tax relate to UK tax only. You should also be aware that the tax implications of your ISA could change if your ordinary residence changes to a jurisdiction outside the UK, so you should consult a tax adviser if that happens.

5 03 The stock market advantages A Stocks and Shares ISA offers the performance of a stock market investment ~ with the added benefit of tax-efficient returns. While bank and building society accounts can be ideal for many types of saving, they do have limitations when it comes to longer term growth. Equity investment has historically proved to be one of the best ways of providing strong returns over the medium to long-term, and ISAs provide one of the most tax-efficient ways to benefit from those returns. It is important to remember that unlike bank accounts, the value of money invested in stocks and shares can fall and you may get back less than you invested. Past performance is not a guide to future performance. How your ISA is managed Your ISA investments are managed through our Discretionary Managed service. Having taken account of your attitude to risk and investment objectives we will buy and sell qualifying investments, making all the investment decisions on your behalf. This not only saves you time; it allows you to benefit from our investment expertise built up over many years in the market. Restricted Advice Please note, however, that whilst Brewin Dolphin looks across a wide range of financial products and services in order to meet your needs and objectives, we will not review all Retail Investment Products in the market. As such we offer a Restricted Advice service.

6 04 Eligibility You can invest in an ISA if you are 18 years or over (16 years or over in the case of a cash ISA), resident and ordinarily resident in the UK for tax purposes. Crown employees serving overseas and their spouse or civil partners can also be eligible. Keeping you up to date We will send you a statement twice a year and you can also request quarterly updates. Your statements will show the capital value, the amount of interest and dividends that have been paid into your account, as well as details of all sales and purchases during the previous six months. Tax on the income of qualifying bonds and fixed interest stocks, if deducted at source, is reclaimed on your behalf. The statement will also show how much cash is being held on deposit and will detail our fees. Withdrawals To withdraw funds from your ISA, you will need to send us your instructions in writing. We will decide how to raise the sum, selling investments where necessary. Your funds may be withdrawn without incurring a CGT liability and all dividends received within your ISA can be withdrawn without further liability to UK income tax. Please note: funds withdrawn from an ISA cannot be replaced without affecting your overall ISA subscription limit for that tax year. Our charges Please refer to our rate card for details of our fees and commissions. About us Established in 1762, Brewin Dolphin is one of the UK s largest independently-owned private client wealth managers, with offices throughout the UK and Channel Islands and over 28 billion under management. Our success is founded on a firm belief that, because your financial needs are unique, the investment advice you receive should be too. We ve worked this way for generations, providing individually crafted solutions that help our clients to preserve and create wealth. Today, we are putting that accumulated experience to work for many thousands of clients including private clients, charities and pension funds. Next steps If you would like to know more about Brewin Dolphin ISAs or any of our other investment services, please talk to your Brewin Dolphin Investment Manager. Alternatively, please call our head office in London on or visit our website at for further details.

7 Design Deep Photography Noel Murphy With thanks to Maze Hill Pottery

8 HMRC regularly makes changes to the ISA Regulations, usually increasing the maximum amount that can be invested each year in an ISA. Aberdeen Belfast Birmingham Brighton Bristol Cardiff Cheltenham Chester Dorchester Dundee Edinburgh Exeter Glasgow Guernsey Ipswich Jersey Leeds Leicester Lincoln London Lymington Manchester Marlborough Newcastle Norwich Nottingham Oxford Penrith Plymouth Reigate Shrewsbury Taunton Truro York W brewin.co.uk E info@brewin.co.uk Brewin Dolphin Limited is a member of the London Stock Exchange, and is authorised and regulated by the Financial Conduct Authority (Financial Services Register reference number: ). Registered office: 12 Smithfield Street, London, EC1A 9BD. Registered in England and Wales company number: VAT number: GB BD0898/03/14