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ISAs - Tax Free Savings

Tax Free Savings

We want to make sure your clients are getting more for their savings and a great way to do that is to open an Individual Savings Account (ISA). As you know, ISAs have become a popular way to save tax free and at Standard Life Bank, we can offer your client:

• Cash ISA.
• Stocks and Shares ISA.

Your client can invest up to £7,200 in the tax year 2008/2009. All of the allowance can be invested in a Stocks and Shares ISA, or it can be split by investing up to £3,600 in a Cash ISA and the remainder of the £7,200 in a Stocks and Shares ISA.

Cash ISA

Summary box Key product information for this account
Account name:	Direct Access Cash ISA
Interest rates (AERs):	Earn 4.60% variable tax-free pa/AER. See full rates below.
Tax Status:	Tax-free on balances up to £3,600 for tax year 2008/09.
Conditions for bonus payment:	Not applicable to this type of account.
Withdrawal arrangements:	No notice period or penalties apply when making withdrawals on this type of account. However, as there is a limit on the amount you can deposit in your ISA in any tax year, you may not be able to reinvest any money you withdraw.
Access:	Enjoy easy access to your money over the phone 8am-6pm Mon-Fri.

The full rates for this savings account can be found below. Interest is paid yearly, however your client can also choose to have their interest paid monthly.

Product	Interest paid yearly		Interest paid monthly
	Gross/ AER %	Gross %	AER %
£1+	4.60	4.50	4.60

The Facts

• Interest rates effective from 22 October 2008, subject to variation.
• Accounts available to UK residents only over the age of 18. (16-17 year olds can apply for a Cash ISA only).
• For ISAs, your client must be resident for tax purposes in the UK.
• The tax relief for ISAs may be altered in the future and its value depends on your clients financial circumstances.
• ISA documentation is issued by Standard Life Bank plc, for the ISA Manager, Standard Life Savings Limited.
• Withdrawals sent by electronic transfer via your clients external account will normally take 3 working days.
• Your client can choose whether interest is to be paid monthly or yearly.

For full rate information, visit our Savings Rates.

To apply for Tax Free Savings on behalf of your client, call us on 08457 55 56 61 Our lines are open:
Mon - Fri : 8am - 6pm
Sat : closed
Sun : closed

Call charges my vary.

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Stocks and Shares ISA

In the tax year 2008/2009, your client can also transfer part/all of their cash subscription to a Stocks and Shares ISA, provided they haven't already used up the annual ISA investment allowance. This means your client can save up to a further £3,600 in a cash ISA.

To find out more and invest online, visit our ISA and Investments Funds page.

Further Information Frequently Asked Questions on Tax Free Savings |

Supporting Documents Savings Product Summary (PDF, 28Kb) Code: SLBSAVPS

The information on this site is for qualified advisers only and must not be relied on by anyone else. If you are not an adviser you should go to our main website for information about our products and services.

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