By DOMINIC CUMMINGS 30/03/2006
If you have yet to use your ISA, VCT, EIS or pension allowances this (2005/06) tax year, it’s not too late.
Full details on how to secure your allowances are below, but when making a last minute application please double check your application form and cheque, as any mistakes could mean you missing your allowance, and don’t rely on first class post to arrive next day.
ISA
The following instructions apply to Cofunds and FundsNetwork fund supermarket applications. If you wish to apply directly to a fund group we will require the application and cheque by 2pm on 4 April.
Paper Applications
Applications can be downloaded and must reach our office, along with a cheque, by 2pm on Wednesday 5 April.
Online Applications
You can buy your ISA online, provided the transaction is complete by midnight on 5 April. Payment is by debit card only. If you know which fund(s) you wish to buy then the process should take 5-10 minutes, but we suggest you start the process no later than 11pm in case of technical difficulty.
FundsNetwork Telephone Applications
You can buy your ISA over the phone through FundsNetwork provided the transaction is complete by midnight on 5 April. Again, payment is by debit card only. Call 08457 44 66 00 and ensure you quote Bestinvest’s FundsNetwork broker code, 170224, to benefit from our discounts.
VCT
Before applying for a specific VCT you should check that the launch is likely to still be open by the time your application arrives. You can view funds available for all open VCT launches, if the figure is less than £5m we suggest your call us on 020 7189 9999 for an update.
Provided your chosen VCT(s) has not been fully subscribed we can accept applications with a cheque up to 9am on 5 April, with the exception of the following launches:
9am 4 April
Aberdeen Growth Opportunities VCT C
Arc Growth Company VCT
Baronsmead AiM VCT
British Smaller Companies VCT
Close Second AiM VCT C&D
Elderstreet VCT
First State AiM VCT
Ingenious Music VCT 2
Invesco Perpetual AiM VCT
Neptune Calculas Income & Growth VCT C
Noble Income & Growth VCT
Noble VCT A
Rensburg AiM VCT
Ventus 2 VCT
If you miss these deadlines call us on 020 7189 9999, as some of the above may extend to the 5 April and applications can be delivered directly to the VCT promoter after 9am on 5 April.
EIS
We can accept applications with a cheque up to midday on 5 April for the following two EIS investments:
British Country Inns Plc – min investment £5,000
Cross Oak Inns Plc – min investment £2,500
To check deadlines for other EIS investments please call 020 7189 9900.
Pension
Deadlines vary between pension providers, but we suggest getting your application and cheque to us no later than 2pm on 3 April. If you wish to check the deadline for a specific provider please call us on 020 7189 9990.