STOCKS AND SHARES ISA

The Scottish Widows ISA has the same wide investment choice as the other Scottish Widows Platform Accounts, including discretionary portfolios. It allows consolidation of current and previous years’ ISAs into the one tax efficient environment with full flexibility on withdrawals. You can apply for the Accounts below through the Scottish Widows Platform.

FEATURES AND BENEFITS

  • The tax-efficiency of an ISA makes it an excellent way for your clients to save towards their financial goals.
  • Arranging for ISA charges to come from your client’s General Investment Account is a great way to add value to your clients as it can make a difference to their potential investment growth.
  • Your client can give you one cheque for the maximum ISA allowance plus any adviser remuneration.

The Stocks and Shares ISA on the Scottish Widows Platform is a flexible ISA. Your clients can deposit up to the £20,000 ISA limit (2023/24 tax year), as well as replace any withdrawals taken from the ISA in the tax year.

WHAT DOES THIS MEAN FOR YOUR CLIENTS?

The flexible ISA will allow your clients to replace withdrawals taken out of their ISA within the current tax year without the replacement contributions counting towards their ISA subscription; giving them peace of mind that they can manage their money in a way that suits them. In addition, adviser remuneration which is treated as a client withdrawal can be replaced in their ISA to maximise their benefit from the ISA wrapper.

APPLICATION

Your client is eligible for this Account if they:

  • are aged 18 years or over,
  • are a resident in the UK and have been for at least the last 6 months (for tax purposes),
  • have not have paid into another ISA of the same type in the current tax year.
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CHARGING

The Account charge is a percentage charge based on the value of the assets under administration in the client’s Account.

For more information on our charges, take a look at our Easy to understand charges – at a glance.

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THE RISKS

As with all investments, there is some risk involved:

  • The value of the Account may go down and your client may get back less than they invested.
  • The level of risk and potential performance depends on the assets invested in.
  • If you are transferring from a Cash ISA, your client should be aware of the increased risks associated with Stocks and Shares ISAs.
  • Changes to tax law may affect the tax benefits of the account.
  • Charges may increase in the future.
  • Over time, inflation will reduce buying power of money.

MANAGING THE ACCOUNT

Keep your client’s Account in check and up to date.

Taking money out of an Account

You can arrange regular withdrawals monthly, quarterly, half-yearly or yearly. You can take one-off withdrawals from available cash in your client’s Account at any time.

Transferring from the Account

You can transfer your client’s Stocks and Shares ISA at any time to another Cash ISA or Stocks and Shares ISA Manager either as cash transfer or re-registering the assets.

If your client wishes to transfer the assets, you must transfer:

  • all the payments your client has made in the current tax year, and/or
  • some or all the value of the Account from payments made in a previous year.

Closing an Account

If you, or your client, change your mind regarding the Stocks and Shares ISA, the Account may be cancelled within 30 days of the customer receiving a cancellation notice. You can contact us by post at Scottish Widows Platform, PO Box 24065, 1 Tanfield, ​Edinburgh, EH3 1EY, or by email at service@scottishwidowsplatform.co.uk.

INVESTMENT OPTIONS

Your clients have access to a range of investment options, including:

Five coloured circles with text inside. 1: Mutual Funds. 2: Investment Advisers (DFMs). 3: Through our Horizon Funds. 4: Model Portfolios. 5: Cash.
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DOCUMENTS

For supporting documents please view our literature library.

PERSONAL PENSION

Flexibility to provide for the most simple or sophisticated requirements, including both the Pension Commencement Lump Sum (PCLS) and Uncrystallised Funds Pension Lump Sum (UFPLS).

STOCKS AND SHARES ISA

Our Flexible Stocks and Shares ISA has access to a wide range of assets, and allows contributions to be replaced if they are withdrawn with in the same tax year.

GENERAL INVESTMENT ACCOUNT

Access to a wide range of assets, giving savings the potential for capital growth and income, as well as providing a flexible means of investing and accessing money.

JUNIOR PERSONAL PENSION

Giving your clients’ children a head start – a parent/guardian will be required to be added to the Account as the registered contact, with the child as the Account holder.

JUNIOR STOCKS AND SHARES ISA

Tax efficient gifting between generations on the Junior Stocks and Shares ISA; available for children up to the age of 18.

THIRD PARTY INVESTMENT ACCOUNT

These allow clients to retain the product features of their existing pension or offshore bond whilst being able to access additional investment opportunities through the Scottish Widows Platform.