Under the current ISA regulations you have no further liability to either income tax or capital gains tax on your investment in the New Star ISA. The investments held within an ISA will have been liable for tax already (e.g. income tax or corporation tax).
On funds that pay dividend distributions we are no longer able to reclaim the 10% tax credit. On funds that pay interest distributions we will reclaim on your behalf the UK income tax deducted (currently 20%). You will not need to report your ISA on your tax return (should you be required to complete one).
| ISA regular savers |
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ISA regular savers should note that ISAs funded by regular monthly investments will automatically roll over into the following tax year unless you cancel your direct debit. Should your monthly investments reach the maximum investment limit in the New Star ISA before the end of the tax year, your monthly collections will automatically cease for the remainder of the tax year. Unless you have cancelled your direct debit beforehand, your monthly collection will then resume in the new tax year and New Star will continue to be your ISA Manager. Regular savers may stop or amend their monthly investment by giving seven days' notice in writing.
| Transfers from a New Star ISA |
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You can transfer all or part of your New Star ISA to another manager by completing a transfer form provided by your new manager. New Star will deal directly with your new manager and will sell your investment at the next valuation point following receipt of the instruction or within the time stipulated by you, which must be no more than 30 days from the date your instruction is given. We will forward the proceeds directly to your new manager.
| Termination of your New Star ISA |
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You may terminate your New Star ISA or withdraw all or part of your investments held in the ISA and the proceeds arising from those investments at any time by giving notice in writing to us or by telephone. We will transfer the investments to you or sell the investments within the period specified by you, which must be no more than 30 days from the date your instruction is given. Where a sale instruction is given by telephone, we may require your signature prior to releasing the proceeds to you.
The standard New Star minimum withdrawal value is £1,000 and we normally require investors to keep at least £1,000 in New Star funds in total after a withdrawal.
| Switching your ISA holdings to a fund supermarket |
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You can arrange the re-registration of your New Star ISA holdings to a fund supermarket that has made arrangements with New Star to support this service. A charge may be payable for this service, which may vary by fund supermarket. Please contact the fund supermarket for further details.
When an ISA is re-registered to a fund supermarket or similar nominee account, there may be a small residual balance(s) as the result of an income distribution(s) being received after the re-registration has been effected. Where this occurs, we reserve the right to return such small balance(s) directly to you.
For further information about this service please contact us.
| For PDF versions of fund factsheets, brochures, guides and more, please visit our literature library |
| Email: webdirectcontact@newstaram.com |
| Dealing Phone: 0845 608 8703 |
| Administration Phone: 0845 608 8704 |