Key Features of the i-stock Individual Savings Account (ISA)

Your i-stock Individual Savings Account

The Key Features Document relates to your i-stock Individual Savings Account (ISA). The product provider for your ISA is Gaudi Regulated Services Limited.

Introduction

You’ve just made a step forward in opening a i-stock Individual Savings Account (ISA). This product is offered by i-stock, which has appointed Gaudi Regulated Services Limited to act as the product provider.

This document provides an overview of all the things you need to know to get started, and the facts you need to determine whether this product is right for you. If after reading, anything is unclear, contact i-stock by emailing: investing@i-stock.uk

or call

0333 444 8 444

All calls may be recorded

  • i-stock Individual Investment Account Features
  • Schedule 1 – Fees and Charges
  • Schedule 2 – Declarations
  • Schedule 3 – Cancellation Notice

Key Features

This Key Features Document shows you the main points about the i-stock ISA.

Please read these carefully and keep it with your i-stock ISA documents.

This Key Features Document is issued by the Product Provider, Gaudi Regulated Services Limited. Gaudi Regulated Services Limited is registered in England with number 06638918. Registered office: 2 Oakridge Office Park, Southampton Road, Whaddon, Salisbury, Wiltshire, SP5 3HB. Gaudi Regulated Services Limited are authorised and regulated by the FCA reference 488015.

Its Aims:

  • To provide the opportunity for Capital Growth.
  • To offer tax efficient investments through an ISA.
  • To allow you access to your money. Although this should be considered a long-term investment, you can make one off withdrawals at any time.

Your Commitment

You must ensure that you understand the features, benefits and risks of our ISA; so that you can be sure it will meet your needs and expectations.

You must ensure that any regular or single subscriptions paid do not exceed the ISA subscription limits.

You must provide us with any information we require when setting up the ISA and agree to be bound by our ISA terms and conditions and pay the charges as set out in the Terms & Conditions.

Risks

The value of investments held in your ISA can fall as well as rise. You may get back less than the amount invested.

The Funds offered through i-stock may not be covered by the FSCS. Please refer to the fund literature for more information before choosing to invest in the fund.  

Past performance is not an indication of future performance and some investments need to be held for the long term to achieve a return.

You should note that the rules relating to the taxation of ISAs and of capital gains and income from investments held within them are subject to change.

If, after considering these risks, you have any doubts about the suitability of the i-stock ISA or if you need further information then you should contact a qualified financial adviser.

QUESTIONS AND ANSWERS

What is an ISA?

An ISA is a tax efficient way of saving or investing as all income and capital gains arising within an ISA are currently exempt from any personal liability to UK Income Tax and Capital Gains Tax.

There are four types of ISA:

  • Cash
  • Stocks and Shares
  • Innovative Finance
  • Lifetime ISA

A payment by you into an ISA in any tax year is called a subscription. ISAs can only be held in a sole name. ISAs held in joint names are not permitted. i-stock only offers a Stocks and Shares ISA.

If you are in any doubt about the suitability of an ISA you should contact a qualified financial adviser.

Could your ISA be right for me?

Our ISA could be right for you if you:

  • Are looking to build up a portfolio of investmentsin a tax-efficient way
  • Understand that growth is not guaranteed
  • Want unrestricted access to your money
  • Require access to a range of investment opportunities
  • Are looking for a long-term investment

If you are in any doubt about the suitability of an ISA you should contact a qualified financial adviser.

Can I have an ISA?

You can join and contribute to an ISA with us if you are aged 18 or over and are resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings and Pensions) Act 2003 (Crown employees serving overseas) are treated as being performed in the United Kingdom or you are married to, or in a civil partnership with, a person who performs such duties. 

You will inform the Product Provider if you cease to be so resident or to perform such duties or be married to, or in a civil partnership with a person who performs such duties.

You must not already be subscribing to a Stocks and Shares ISA for the current tax year.

What are your ISA charges?

Our ISA charges are explained in the i-stock Terms and Conditions and illustrated in schedule 1 of this Key Features Document.

What other terms and conditions apply?

Our ISA terms and conditions are set out in the i-stock Terms & Conditions.

Who can pay contributions into my ISA?

You can contribute to your ISA if you are aged 18 or over, are resident in the UK and have not subscribed to another Stocks and Shares ISA in the current tax year.

Once your ISA is set up you can pay single and/or regular contributions, subject to the minimum and maximum contribution limits set below.

Are there any contribution limits?

The minimum single contribution is £500. The minimum regular contribution limits are £50 a month or £12.50 a week. There is a maximum annual limit for an ISA, which is detailed below.

How can contributions be made?

Single and regular contributions can be paid monthly by Direct Debit.

Single contributions can be paid by bank transfer.

All contributions must be drawn on a bank account in your name. Contributions from a joint bank account will only be accepted provided you are a named holder of that account.

What is the maximum limit for ISA subscriptions?

The annual limit for subscriptions is £20,000 in the tax year 2018/19.

If you have already subscribed to a different Stocks and Shares ISA in the current tax year then you are not permitted to subscribe to our ISA for the remainder of the tax year.

If you have subscribed to a Cash ISA and/or Innovative Finance ISA in the current tax year then you may subscribe to our ISA but the combined subscriptions must not be more than £20,000.

Can I transfer existing ISA investments to you?

You can transfer your existing ISA, in cash, into an ISA with us. The transfer must be in the form of a cash payment and in this case, you will have to sell all of the investments held under your ISA before the transfer is completed.

Do I pay tax on any dividends or gains within my ISA?

ISAs are currently exempt from any personal liability to UK Income Tax and Capital Gains Tax.  As a result, you do not have to declare any income and capital gains from an ISA on any self-assessment tax return you may need to send to HM Revenue and Customs.

Any dividends received do not count towards your annual Dividend Allowance and any interest received does not count towards your Personal Savings Allowance.

This is based on our understanding of current UK tax law and HM Revenue and Customs practice. Tax benefits, law and practice may of course change in the future. Your tax liability will depend on your own individual circumstances, including your country of residence for tax purposes. If you are unsure about your own situation you should contact a qualified financial adviser.

Can I transfer my ISA to another ISA provider?

You can transfer the value of your ISA to another provider at any time. 

The transfer will be in the form of a cash payment and so you will have to sell down your investments held before the transfer can be completed.

Where will my money be invested?

Your money will be invested in your selected investment fund. Before making an investment you should read all of the relevant fund literature.

Can I make regular investments?

Yes, regular investments can be made by Direct Debit. We will credit the Direct Debit cash to your account following a 5-day clearance period.

Can I obtain up-to-date valuations?

Yes. You can check the value of your holdings at any time through the i-stock app, and can find valuation, performance, and contribution details there.

Can I withdraw money from my ISA?

The i-stock ISA is a long-term investment. You can withdraw cash from your ISA at any time.

You can either withdraw the full balance held in your ISA, or withdraw part of the balance. There are no charges for withdrawing cash from your i-stock ISA.

Withdrawing from your ISA could lead to loss of tax-free benefits.

Can I receive an income?

Any income generated from the assets inside your i-stock ISA will be reinvested automatically. If you wish to take an income from your investment this can be achieved by withdrawing part of your investment at any time.

What happens if I die?

The tax advantages of your ISA will continue in the event of your death.

Your account will be designated as a continuing account of a deceased investor and it will remain open until the earlier of:

  • The completion of the administration of the deceased’s estate
  • The closure of the account
  • The third anniversary of the death of the account investor

No subscriptions can be made into the account.

Can I change my mind?

You have a right to cancel your ISA if you change your mind. When your first ISA contribution or transfer is received you will receive a cancellation notice. This will give you the right to cancel during the next 30 days.

Your ISA will be invested in assets during this period. If you choose to cancel your Account during the cancellation period, any investments held in your Account will be sold and we will return any contributions or transfers. In the case of a transfer, the previous provider might not accept the funds back. The amount to be repaid may be less than the amount paid to us if the value of the investment has fallen at the time it is sold or where we have deducted any applicable charges.

How is Banking & Administration carried out?

When you move funds into your i-stock ISA, any cash will be placed into a client money bank account held with Barclays Bank PLC or another bank at the discretion of Gaudi Regulated Services Limited.

This does not affect the funds held in your i-stock savings balance.

The i-stock ISA is provided by Gaudi Regulated Services Limited. Gaudi Regulated Services Limited has appointed Quai Administration Services Limited to undertake the day to day administration of the product.

Are there any compensation arrangements covering my ISA?

The Financial Services Compensation Scheme (FSCS) protects consumers when financial services firms fail [or go bust]. It is the compensation scheme for customers of UK authorised financial services firms, and includes investment firms.The maximum claim that could be made by your ISA is £85,000.

The Funds offered through i-stock may not be covered by the FSCS. Please refer to the fund literature for more information before choosing to invest in the fund.  

Further information about the compensation arrangements is available from the Financial Services Compensation Scheme at www.fscs.org.uk

How do I complain?

If you feel dissatisfied with any aspect of our service, then in the first instance please contact i-stock on 0333 444 8 444 or send a letter to the following address:

i-Stock
1 Bracknell Beeches  
Old Bracknell Lane
Bracknell, Berkshire
RG12 7BW

If we are unable to resolve your complaint to your satisfaction, and you are an eligible complainant as defined by the Financial Conduct Authority, you will have recourse to the Financial Ombudsman Service. Details of the Financial Ombudsman Service are:

Financial Ombudsman Service

Exchange Tower

London

E14 9SR

Email: complaint.info@financial-ombudsman.org.uk

Website: www.financial-ombudsman.org.uk

 

Telephone Numbers:

0800 023 4567 (calls to this number are now free on mobile phones and landlines)

0300 123 9 123 (calls to this number cost no more than calls to 01 and 02 numbers)

IMPORTANT NOTES The information in these key features document is provided based on our understanding of current law, practice and taxation which may be subject to change.

Full details of the legally binding contract between you and Gaudi Regulated Services Limited are included in the i-stock “Terms and Conditions” which you should have been provided with and which is available upon request.

The law of England and Wales will apply in all legal disputes     

i-stock is the trading name of Tavistock Wealth Limited which is authorised and regulated by the Financial Conduct Authority – reference568089. The registered address for Tavistock Wealth Limited is 1 Bracknell Beeches, Old Bracknell Lane, Bracknell, RG12 7BW. Registered No: 7805960. Registered in England. Vat Number 136207533.

 

Gaudi Regulated Services Limited is authorised and regulated by the Financial Conduct Authority. Registered in England No 06638918, VAT No 100101222. 

 

The Registered Office for Gaudi Regulated Services Limited is 2 Oakridge Office Park, Whaddon, Salisbury, SP5 3HT.

The Registered Office for Quai Administration Services Ltd is 16 Tesla Court, Innovation Way, Peterborough, PE2 6FL. Registered No: 07584959. Registered in England. VAT Number: GB122870723.

Schedule 1 – Fees for i-stock Investments

 

For the i-stock ISA – An annual management fee of 0.00% of the amount you have in the account taken monthly from your i-stock ISA.

In addition, the fund(s) in the ISA will incur fund charges, charged by the provider of the fund, these are specified in the fund Key Investor Information Document (KIID).

Schedule 2 – The i-stock Individual Savings Account Cancellation Form

You have a right to cancel your ISA if you change your mind. When your first ISA contribution or transfer is received you will receive a cancellation notice. This will give you the right to cancel during the next 30 days.

Your ISA will be invested in assets during this period. If you choose to cancel your Account during the cancellation period, any investments held in your Account will be sold and we will return any contributions or transfers. The amount to be repaid may be less than the amount paid to us if the value of the investment has fallen at the time it is sold or where we have deducted any applicable charges.If you are cancelling a transfer in of funds it is your responsibility to ensure the provider that has transferred any monies to us will accept their return, or to locate another provider to accept the monies.

 

Name:

 

Address:

 

Email Address connected to i-stock:

 

Date of birth:

 

I hereby inform i-stock that I wish to cancel the i-stock Individual Savings Account, and instruct the product provider to sell all investments, and return the funds to me (subject to the i-stock Terms and Conditions).

 

Signed:

  

Dated:

 

Return this form to i-stock, c/o Quai Administration Services Ltd, 16 Tesla Court, Innovation Way, Peterborough, PE2 6FL

 

Schedule 3 – Individual Savings Account Declaration

I authorise the Product Provider appointed by i-stockto hold my cash subscription/payment, ISA investments, interest, dividends and any other rights or proceeds in respect of those investments and any other cash and to make on my behalf any claims to relief from tax in respect of ISA investments. I confirm that:

 

  • All subscriptions made, and to be made, belong to me.
  • I am resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or I am married to, or in a civil partnership with, a person who performs such duties. I will inform the Product Provider if I cease to be so resident or to perform such duties or be married to, or in a civil partnership with, a person who performs such duties.
  • I am 18 years of age or over.
  • I am not a US Person (as defined by the US Tax Authority).
  • I have not subscribed/made payments, and will not subscribe/make payments above the overall subscription limit of £20,000 to all my ISAs in the same tax year.
  • I have not subscribed, and will not subscribe, to another stocks and shares ISA in the same tax year that I subscribe to this stocks and shares ISA.
  • I agree to the charges as defined in the i-stock Terms and Conditions.
  • The information provided via the online application and any other documents completed in connection with this application, are correct, complete and not misleading. I accept full liability for any claim, loss or expense incurred by me as a result of incorrect information provided by me in this application. I agree to inform you within 30 days of any changes in the details I have supplied in this application.

 

I acknowledge and agree to the following statement about my understanding of risk:

 

  • The value of my investments can go up as well as down. I may get back less than I invested. My capital is at risk.
  • Instant access cannot be guaranteed. This should be considered a long-term investment.
  • Tax rules and relief can change in the future.

These products are only suitable for people who wish to select their own investments. No advice will be given by i-stock or Gaudi Regulated Services Limited. 

The Financial Conduct Authority is a financial services regulator. It requires us, Gaudi Regulated Services Limited, to give you this important information to help you to decide whether our ISA is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference.

i-stock is a trading style of Tavistock Wealth Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 568089. Registered in England and Wales. Registered O­ffice: 1 Bracknell Beeches, Old Bracknell Lane, Bracknell RG12 7BW, Company Number 7805960. Tavistock Wealth Limited is a wholly owned subsidiary of Tavistock Investments Plc. The product provider for the i-stock ISA and GIA is Gaudi Regulated Services Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 488815.  Registered office 2 Oakridge Office Park, Whaddon, Salisbury, SP5 3HT, Company Number 06638918. Registered in England.

If you require any further information, you should find most answers in our FAQs, otherwise please feel free to contact the i-stock helpdesk. Alternatively, you can send us a message below.

By completing the form below you voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with the appropriate data protection requirements

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i-stock is a trading style of Tavistock Wealth Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 568089. Registered in England and Wales. Registered O­ffice: 1 Bracknell Beeches, Old Bracknell Lane, Bracknell RG12 7BW, Company Number 07805960. Tavistock Wealth Limited is a wholly owned subsidiary of Tavistock Investments Plc. The product provider for the i-stock ISA and GIA is Gaudi Regulated Services Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 488015. Registered in England and Wales. Registered office 2 Oakridge Office Park, Whaddon, Salisbury, SP5 3HT, Company Number 06638918.

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