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Individual savings accounts (ISAs) were introduced by the government in 1999 as a form of a tax efficient wrapper* for savings and investments to replace PEPs and TESSAs. Launched to encourage people to save for the future, ISAs allow investors to save and invest without incurring Capital Gains Tax (CGT) on equity investments, and limiting the tax paid on any interest payments or dividend income.
*The tax benefits of an ISA wrapper depend on the underlying product and your individual situation, as income distributions paid by Stocks & Shares ISAs still suffer a 10% tax deduction. This is based on our current understanding of tax rules.
What is an ISA?
An ISA is simply a wrapper that protects the savings you hold within it from further tax.
In its continued commitment to encourage savings, the government has delivered on its promise to increase the annual ISA allowance in line with the value of inflation. Against a backdrop of impending income tax rises and recent CGT rises, investing your money in a tax-efficient wrapper could make sense - enabling you to get the most from your investments at a time when it has never been more important.
What are the benefits of an ISA?
- No CGT is paid on proceeds received from your Stocks & Shares ISA when you decide to sell your investments.
- Higher rate taxpayers may see additional tax benefits through a Stocks & Shares ISA. They do not have to pay the additional tax on dividends which they would normally pay if the shares were held outside of an ISA wrapper.
- You may transfer your ISA with one provider to another provider at any time.
- Married couples can effectively combine their ISA allowance, split across two separate accounts, with the same or different providers.
Please note that the above is based on Jupiter's understanding of tax rules at the time of writing. These may be subject to change in the future and are dependent on individual circumstances.
Jupiter ISA limits at a glance
The maximum and minimum investment limits are shown below:
Jupiter
Product |
Lump sum maximum
per product |
Lump sum
minimum
per fund |
Monthly maximum
per product |
Monthly
minimum
per fund |
Lump sum top-up minimum
per fund |
| Unit Trusts |
There is no limit |
£500 |
There is no limit |
£50 |
£250
|
| Jupiter Stocks & Shares ISA 2011-2012 |
£10,680 |
£500 |
£890* |
£50 |
£250 |
Jupiter Cash ISA
2011-2012 |
£5,340 |
£500 |
£445** |
£50 |
£250 |
| ISA Transfers |
There is no limit |
£500 |
N/A |
N/A |
N/A |
* Assumes 12 monthly payments are made up to the total value of £10,680.
** Assumes 12 monthly payments are made up to the total value of £5,340.
Please note that if investing into the income units of either the Jupiter Distribution Fund or Jupiter Monthly Income Fund the minimum investment level is £5,000. If you wish to invest in either of these funds on a monthly basis you must select accumulation units.
ISA Transfers
You can transfer your ISAs from one provider to another whenever
you want.
You may transfer:
- Your total current year ISA subscriptions (and any income arising from your investments) and/or,
- All or part of previous years ISA subscriptions (and any income arising from your investments).
Important points to consider on ISA transfers:
- Money saved in Cash ISAs can be transferred into Stocks & Shares ISAs, however Stocks & Shares ISAs cannot be transferred into Cash ISAs.
- You can transfer part or all of your Cash ISAs from previous tax years into Stocks & Shares ISAs, with your present or another provider, without affecting your current annual ISA investment allowance.
- You can transfer money saved in a current tax year Cash ISA into a Stocks & Shares ISA, with your present or another provider. Such transfers must be for the whole amount saved in that tax year up to the day of the transfer. Once such a transfer has been made you are free to save up to the full Cash allowance in another Cash ISA, or the full annual allowance limit in a Stocks & Shares ISA.
- You can transfer some or all of your investments held in Stocks & Shares ISAs from previous tax years to a Stocks & Shares ISA with another provider. You will need to choose a Stocks & Shares ISA provider with whom you want to hold your ISA and then ask the new provider to set up the transfer.
- You must not withdraw the money and transfer it to a new Stocks & Shares ISA yourself, as this will count against your current annual ISA investment allowance.
Downloads
To apply for a Jupiter Stocks & Shares ISA or Cash ISA download the application form and Key Features (incorporating the Simplified Prospectus) using the links below.
Stocks & Shares ISA Application Form 2011/2012
Cash ISA Application Form 2011/2012
Key Features (incorporating the Simplified Prospectus)
Tax rules may change in the future. The value of a Stocks & Shares ISA may fall as well as rise and you may get back less than you invested. It may also be affected by exchange rate variations. Before making an investment decision you should consult your Independent Financial Adviser (IFA).
Please note: The Jupiter Unit Trust ISA and Jupiter Investment Companies ISA have separate management companies. This means you cannot invest in an ISA through Jupiter in both unit trusts and investment companies within the same year.