Licensing And Royalty Deals
ividual Savings Accounts?
Individual Savings Accounts or ISAs were introduced from January 1999 to encourage individuals to invest directly in the Stock Exchange. The encouragement comes in the form of tax relief. Your dividends are free of income tax and the profit on the sale of your shares is free of capital gains tax. As income tax has effectively been paid already on dividends, the plan manager reclaims that from the Revenue for you. It does not affect your liability to pay stamp duty, VAT and inheritance tax.
A ISA takes the form of a separate portfolio which must be managed by someone who has obtained Inland Revenue approval for the purpose. He is known as the plan manager. Each adult can invest up to £12400 per calendar year, either as a lump sum or as monthly payments. Some of this may be invested in unit trusts. This limit applies to each person, so a husband and wife can each have a plan. There is no minimum limit in the tax rules, but plan managers will usually want at least £1360 a ye
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