Few people know that you can put money aside tax-free in an investment ISA in addition
to your cash ISA. The investment ISA is legally known as a Stocks and Shares ISA, but we call it an investment ISA because
it can invest in much more than the name suggests! By taking advantage of the investment ISA you can make sure you’re
using your full ISA allowance and pay less tax.
So why pay more tax than you need to?
My Select (ISA) from Scottish Friendly is a great way for you to make the most of your
investment ISA allowance. It’s a tax-free investment designed to get you into a good habit of putting some money away,
and is available to UK residents aged 18 years or over.
You can invest from as little as £10 a month and
up to £11,280 each tax year in an Investment ISA, minus any amount you have invested in your your cash ISA. 'Tax-free'
means that the fund your plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares).
Tax treatment depends on your individual circumstances and tax law may change in future.
If you select a With-Profits fund, in some circumstances, Scottish Friendly may have to apply a Market
Value Reduction (MVR) when you close your My Select (ISA), which could result in a smaller payout.
What’s more, customers who take out a plan in the next two months (until 1st April
2013) will be entered into a draw to win an 4th generation iPad*! (*4th Generation iPad with Retina display
with Wi-Fi 16GB (Black)).
Your ISA allowance for the current tax year is £11,280, less any amounts subscribed
to a cash ISA with another ISA manager. If you have contributed to an investment ISA with another manager in this tax year,
you will not be able to invest in this Scottish Friendly ISA until the next tax year. But if you have invested only in a Cash
ISA you can set up a Scottish Friendly ISA now.