Sippcentre ISA charges and rates
These charges & rates are effective from 1 August 2011.
Establishment & administration
| Charge | |
| When you establish your ISA | Nil |
| Quarterly/annual administration for any fund size | Nil |
| If you make a single or regular subscription | Nil |
| If you transfer in from another ISA provider | Nil |
Other fees and charges
| Charge | |
| If you make a cash transfer to another ISA | Nil |
| If you want us to make any payment by CHAPS | £25 + VAT |
| If you have insufficient funds e.g. to pay charges | £25 + VAT |
| If you withdraw cash from your ISA | Nil |
The Advisory option dealing charges
| Charge | ||
| If your adviser deals in the core advisory funds | ||
| online | Nil | |
| by telephone | £29.95 | |
| If your adviser deals in other investments | ||
| online | £9.95 | |
| by telephone | £29.95 | |
| Regular investment service - if your adviser deals in core funds | ||
| online | Nil | |
| by telephone | Nil | |
| Regular investment service - if your adviser deals in FTSE 350, selected ETFs, ETCs or investment trusts | ||
| online | £1.50 | |
| by telephone | £1.50 | |
| Deals where Sippcentre is required to complete a paper application and pre-fund the cost (e.g. structured products). Your adviser will be told in advance if this charge will apply.* | £100 | |
Custody of structured products and funds
| Charge | |
| If your adviser deals in the core advisory funds | Nil |
| If your adviser deals in funds, (other than those in the core advisory funds list) and/or structured products | £12.50 per quarter |
Only one custody charge will be made regardless of the number of different investments held. As noted above, this charge only applies to collectives and not to other investments such as shares or Exchange Traded Funds.
Notes
- *For investments in structured products, investment instructions must be received by Sippcentre no later than 3 days prior to the issuer’s deadline.
- The investments that are chosen by you or your adviser may have their own initial and annual charges. In addition your adviser may receive initial and renewal commission from the purchase of investments such as unit trusts and OEICs. Your adviser will provide you with further details.
- Dealing charges apply to purchases and sales.
- The quarterly custody charges are payable at the end of March, June, September and December and will apply if your ISA holds any fund, which is not a core advisory fund, or a structured product on the last working day of the relevant month. Only one custody charge will be made regardless of the number of different investments held. The full amount of the charge will be payable, regardless of the length of time for which the investment has been held during the quarter.
- Stamp duty of 0.5% applies on all purchases (not sales) of UK quoted shares (1% for shares quoted on the Irish Stock Exchange). Stamp duty is payable on certain securities issued by UK incorporated companies where these securities are traded as CREST Depositary Interests. There is no stamp duty on the purchase (or sale) of unit trusts, open ended investment companies (OEICs), exchange traded funds (ETFs), warrants and government stock.
- PTM (Panel on Takeovers and Mergers) levy of £1.00 is payable on equity trades with a consideration over £10,000 in securities of companies which are incorporated in the UK, Channel Islands or the Isle of Man.
- Settlement and custody services for purchases and sales are carried out by our advisory investment partner, A J Bell Securities Limited, part of A J Bell, a member of the London Stock Exchange and authorised and regulated by the Financial Services Authority. All dealing charges are due to A J Bell Securities Limited.
- For unit trusts and OEICs, we may receive and retain a portion of the annual management charge (also known as trail commission) applied by the fund manager.
- If you wish to transfer out in specie, then a charge of £20 per holding will also apply.
General
- All ISA charges are due to A J Bell Securities Limited. Charges will be deducted from the ISA cash account.
- There is no additional charge for payments made by BACS or by cheque.
- Bank charges may apply if a regular payment such as a Direct Debit is rejected due to insufficient funds.
- These charges & rates must be read together with the Sippcentre ISA terms and conditions.
Interest rates
(last updated on 29 September 2011)
| Cash balance | Gross interest rate | Interest rate (AER) | Net interest rate after the deduction of FRC* |
| All balances | 0.0% | 0.0% | 0.0% |
Notes
- Please note that all cash will be held in your ISA cash account until invested.
- There are no routine bank transaction charges. Interest on cash held in the ISA is paid without any deduction of income tax. However, a Flat Rate Charge* (as prescribed by HMRC) is deducted from the interest paid.
- Interest rates are subject to variation and interest is paid to your account quarterly, in arrears.
- You will receive a regular statement detailing all of the transactions on your account. Full details are also available online.
- The Annual Equivalent Rate, AER, represents the annual rate effectively received by a customer if the interest at gross rate applied during a year remained in the account and itself earned interest. As every advert for a savings product where a rate is displayed will contain an AER, you will be able to compare more easily the return you can expect from your savings over time.
- We may receive payments from banks based on aggregate cash balances held across all ISA cash accounts with them and keep these payments for our own account.
Adviser remuneration
Adviser remuneration can be paid out of the ISA cash account at rates to be agreed between the adviser and the client. Certain investment options may also pay commission to the adviser. Your adviser will provide you with further details.
