Use it or lose it - ISA deadlines from Barclays Stockbrokers
As the end of the tax year approaches, Barclays Stockbrokers, the UK's largest execution-only online stockbroker, has announced its deadlines for ISA account opening and funding.
These are to ensure ISA subscriptions are processed before the end of this tax year (5 April 2011).
Open a new Investment ISA for the 2010/11 tax year:
By telephone - Investors can call to open an ISA on 0800 068 6688 until 8.30pm on 5 April
Online - Investors can open an ISA online until 9.15 pm on 5 April (accounts will be opened instantly as long as the individual passes the online credit checks)
By post - Postal applications can be received up to Tuesday 5 April.
Subscribe to an existing Investment ISA this tax year:
With stock that is currently held within a MarketMaster trading account: Barclays Stockbrokers requires instruction by the close of business (8.30pm) on 29 March.
With a share certificate: Barclays Stockbrokers requires the certificate, a signed CREST transfer form and an additional subscription form by close of business 29th March.
Cash payments: using BACs or CHAPS systems must be received by 5 April
Debit card payments: Telephone instructions can be taken until 8.30pm on 5 April. Online payments can be made up to 9.15pm on 5 April
Cheque : to be received by post by Tuesday 5 April
Transfer cash from a MarketMaster trading account: Individuals must provide a telephone instruction to move cash from a MarketMaster account to an ISA by 5pm on 5 April.
Catherine Penney, Vice President, Barclays Stockbrokers, comments: "With the end of the tax year fast approaching, it is crucial that investors make the most of their tax free ISA allowance, and appreciate that it really is ‘use it or lose it'. In the current climate, where there is little expectation that interest rates will rise higher than inflation any time soon, and cash ISA investors are seeing an erosion of their savings in real terms, Investment ISAs present an increasingly interesting opportunity. Investment or "stocks and shares" ISAs offer the potential for greater long-term returns, provided that an individual is prepared to accept the additional risk to their capital and possible fluctuations in income.
"Barclays Stockbrokers offers an extensive range of products that allow investors to structure a portfolio that meets their investment objectives and risk profile. They can also adapt their portfolio over time to capitalise on changing market conditions and the requirements of different life stages. The Barclays Stockbrokers Investment ISA and SIPP are fee-free when only investing in funds from our Funds Market and the Barclays Wealth Global Markets range of funds is now available at 0% initial charge. As well as over 1,000 funds at heavily discounted initial commissions, investors can consider equities, gilts & bonds, Exchange Traded Funds (ETFs), Exchange Traded Commodities (ETCs) and structured products."