We have 3 tip(s) under the heading YourInvestments.

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Accrued Income Scheme - This applies to interest bearing securities such as government stock. When you sell stock just before the next interest date you are taxed on the accrued interest to the settlement date and the buyer`s income is respectively reduced. If you sell after the interest date, your income is reduced and the buyer is taxed on the interest from the settlement date to the next interest payment date. This does not apply if the nominal value of all income scheme securities held is less than £5000 in the tax year that the next interest payment falls due or the previous year

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The New ISA

From 1 July 2014, ISAs were reformed into the ‘New ISA’ (NISA). From that date all existing ISAs became NISAs, and the overall annual subscription limit for these accounts was increased.

ISA savers will be able to subscribe this full amount to a cash account (currently only 50% of the overall ISA limit can be saved in cash), and will also be able to transfer their investment from a stocks and shares to a cash account and vice versa.

There are changes to the rules on the investments that can be held in a NISA, so that a broader range of securities, including certain retail bonds with less than five years before maturity, can be invested.

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Non Taxpayers - If you are a Non-Taxpayer and your total income is below the personal allowance, you may register to receive interest on banks or building society accounts without the deduction of tax. Even if most of your bank and building society interest will be covered by your allowances, you cannot register some accounts and not others. They must all be covered

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