Important ISA Information for UK Resident Seafarers

The information within this article has been provided by Tim Reedman, Chartered Financial Planner of St. James’s Place.

This year’s ISA – capture the moment, before it’s gone! Are you making the most of yours? Before the end of this tax year, there is the opportunity to shelter up to £15,240 in an ISA, with no further tax to pay on income and growth, free from Capital Gains Tax. Yet the majority of ISA savers still fail to make the most of the opportunity.

The government sent out a strong message about the importance of ISAs in the future of personal savings when it announced that the annual allowance will increase to £20,000 from April 2017.

Despite the poor returns savers have suffered for many years, over 52% of ISA funds – that’s over £270 billion¹ – are still held in cash. Average rates of interest are the lowest ever recorded². The introduction of the Personal Savings Allowance has exerted even more downward pressure on Cash ISA rates, and raised more questions over the value of using valuable ISA allowances as a home for cash.

The tax benefits of your ISA allowance can only be maximised by investing for the long term in assets offering the scope for attractive levels of income and capital growth.

At St. James’s Place we manage £14.2 billion of ISA investments on behalf of our clients. Through the combination of our distinctive investment approach and a complete picture of your attitude to risk and long-term financial goals, we’ll help you create a diversified ISA portfolio that can stand the test of time.

If you would like to find out more about making the most of your ISA allowance before 5 April, please contact me on 01243 217472 or

Tim Reedman – FPFS
Chartered Financial Planner
Fellow of the Chartered Insurance Institute
Reedman Wealth Management

An investment with St. James’s Place will be directly linked to the funds you select and the value can therefore go down as well as up. You may get back less than you invested. An investment in a Stocks & Shares ISA will not provide the same security of capital associated with a Cash ISA. The favourable tax treatment of ISAs may be subject to changes in legislation in the future.

Sources; HMRC, September 2016, Moneyfacts, November 2016

The Partner represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website at The ‘St. James’s Place Partnership’ and the title ‘Partner’ are marketing terms used to describe St. James’s Place representatives.