Charges and rates for the Sippdeal ISA

Sippdeal ISA charges and rates

All charges will be deducted from your ISA cash account.

These charges & rates are effective from 1 November 2011.

Establishment & administration

Dealing (Frequent dealing charges are effective from 1 November 2011)

The online dealing charge is determined by the number of deals you placed in the previous calendar month across your SIPP, ISA and Dealing Account (excluding any regular investment deals). For example, the charge you pay in December will depend on the number of deals you made in November.

Custody of structured products and funds

Only one custody charge will be made regardless of the number of different investments held. This charge does not apply to shares or Exchange Traded Funds.

Regular investing

Annual fund rebate

For a number of funds on our funds list, you will receive an annual rebate of a percentage of the commission that we receive. Full details of the level of the rebates and the funds to which they apply are available on the Sippdeal Funds List. We reserve the right to vary the amount of the rebate on any fund by giving 30 days’ notice in writing.

Notes

• The online dealing charge is determined by the number of deals you placed in the previous calendar month across your SIPP, ISA and Dealing Account (excluding any regular investment deals). For example, the charge you pay in December will depend on the number of deals you made in November.
• The investments that you choose may have their own initial and annual charges, in addition to our dealing charges.
• If you are investing in unit trusts and OEICs, we offer discounts of up to 6.0% on the initial charge made by the fund managers. All initial charge rebates and any specially negotiated discounts of initial charges on unit trusts and OEICs are passed on to your investment. See our Funds List for details. Information on the annual charge for the unit trust or OEIC may be obtained from our dealing site, or direct from the fund manager.
• The Sippdeal Funds List is available on the Sippdeal website.
• Dealing charges apply to purchases and sales. The dealing charge for each transaction will be shown on the contract note.
• 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 on the Sippdeal Funds List, 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 purchases (or sales) of unit trusts, open ended investment companies (OEICs), exchange traded funds (ETFs), warrants and government stock.
• The 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.
• 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 the underlying ISA assets, then a charge of £20 per holding will also apply.

Other fees and charges

Interest rates

Notes

• Please note that un-invested cash can only be held in your ISA cash account.
• The interest rate for each tier only applies to money held in that tier and not to the account balance as a whole. Total interest paid will be a blended rate depending on the money held in each tier. Therefore the interest rates shown should not be used for comparative purposes with other accounts, unless they operate on a similar basis.
• The Annual Equivalent Rate (AER) represents the annual rate effectively received by a client if the interest at gross rate applied during a year remained in the account and itself earned interest.
• 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. This is the net interest rate in the table above.
• 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.
• We may receive payments from banks based on aggregate cash balances held across all accounts with them and keep these payments for our own account.