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ISAs and PEPs

The Individual Savings Accounts (ISAs) are simple, flexible, tax-efficient savings plans.

Following the announcements made in the Budget 2014, changes to ISAs were implemented in July 2014, which have resulted in both simplifying these products, but more importantly, significantly increasing the amount that can invested into these tax efficient savings vehicles.

NISAs benefit from tax-efficient growth and are not subject to income or capital gains tax on encashment. There is no need to declare your NISA on your tax return.

ISA Maximum Contribution Limits
For each tax year, there's a limit to the amount you can deposit into your ISA – this is your annual allowance. The allowance for the 2017/2018 tax year is £20,000, which you can invest in a cash ISA, an investment ISA, an innovative finance ISA, or a combination of the three.

Anyone who is a UK tax resident over 18 can open a NISA and the age is reduced to 16 for cash ISAs.

The Stocks and Shares component of a ISA can be invested into trusts, OEICs (Open Ended Investment Company’s), investment trusts or directly into equities, gilts or corporate bonds.

If you have available cash in a bank or building society account, it may be advantageous to place some of this money into a ISA, as deposit accounts are normally taxed at the highest rate you pay.

Personal Equity Plans (PEPs)

PEPs were abolished in April 1999 and so you can no longer invest new money into these plans. However, existing PEPs can be transferred into NISAs.

It is worth maintaining PEP investments as they offer similar benefits to a NISA. If you already have money invested in a PEP, you can leave it where it is, or switch to another provider. We can review your existing holdings to ensure your investment achieves maximum growth.


Vintage Wealth Management Limited is authorised and regulated by the Financial Conduct Authority. FCA Number 593380. Registered in England and Wales No. 07879453.
The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit