InvestmentsApr 2 2014

Providers prepare for last-minute Isa rush

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Fidelity’s head of advisory services said advisers would be provided with extra support in the run-up to the 5 April end of tax year deadline, with 17 nationwide collection points open until 6pm on Friday 4 April.

Fidelity’s Surrey and Tonbridge, Kent offices will be open from 9am to midnight on 5 April, while online and phone Isa applications will be accepted until midnight on the same day.

Mr Everill said: “The end of the tax year is always a busy time. We hope our continued end-of-tax year support will reduce pressure and ensure all those last-minute applications are processed before the deadline.”

Wrap platform Nucleus has launched an Isa toolkit for advisers to help them open, top-up or transfer Isas ahead of its deadline of 12pm on Friday 4 April.

Hargreaves Lansdown has a range of deadlines for various products, from Thursday 3 April at 5pm for some postal applications, to 11.55pm on Saturday, 5 April for telephone and Isa applications.

Other firms have lowered charges. Vanguard dropped the entry cost for investors into its UK equity funds from 0.5 per cent to 0.4 per cent, while BNY Mellon has reduced the initial charge on funds in its stocks and shares Isa to 0 per cent, with a deadline for applications by post or online by 4 April.

Best picks/Cash Isas

Susan Hannums, director at independent savings advice site Savingschampion.co.uk:

• Santander Direct Isa Saver – paying 1.60%, allows transfers in, easy access and has a low minimum investment.

• Earl Shilton Building Society pays a top rate of 1.80% tax-free with access on 90 days’ notice.

• Provided investors have/open one of Santanders 123 current accounts or 123 credit cards, its 2-year fixed rate Isa pays 2.3% tax-free on a minimum of £500.

Best picks/Stocks and shares Isas

Jason Hollands, managing director at London-based Bestinvest:

• PFS Twenty Four Dynamic Bond for cautious income seeker.

• The Jupiter Absolute Return fund for the cautious growth investor.

• For moderate risk income seekers, the Standard Life UK Equity Income Unconstrained.