PEP Regulations

In November 2006, Ed Balls, the Economic Secretary to the Treasury, announced a series of changes to PEPs and ISAs that are designed to simplify and encourage personal savings in the UK. From 6 April 2008 all Personal Equity Plans (PEPs) automatically became Stocks and Shares ISAs and are subject to ISA regulations.

What happens to my PEP?

All PEP accounts automatically became Stocks and Shares ISAs, this does not require any action on your part.

Your Barclays Stockbrokers PEP is now a Barclays Stockbrokers Investment ISA. You will be able to invest in this re-labelled PEP, as long as you haven't subscribed to another Stocks and Shares ISA during the same tax year.

New ISA rules

From 6 April 2008, the overall subscription limit for a Stocks & Shares ISA increased from £7,000 to £7,200, of which up to £3,600 can be subscribed to a Cash ISA.

To help encourage share ownership, HM Revenue & Customs now allow you to transfer a Cash ISA into a Stocks and Shares ISA.

Barclays Stockbrokers do not offer a Cash ISA, however you can transfer funds from a Cash ISA you hold with another provider to a Barclays Stockbrokers Investment ISA. The cash can be transferred without losing it’s tax free status provided that it has been subscribed in a previous tax year. Please be aware that transferring funds from a Cash to a Stocks and Shares ISA will expose you to an increased investment risk.

Removing Mini/Maxi ISA distinction

The distinction between a Mini and Maxi ISA has been removed, making it easier to understand and administer

ISA Subscription Limits

You can still subscribe to a Stocks & Shares ISA and a Cash ISA in the same tax year provided you adhere to the following criteria:

The amount subscribed to the Cash ISA is not greater than £3,600
The overall amount subscribed to the stocks & shares ISA and the Cash ISA is not greater than £7,200

Consolidate your existing ISAs and PEPs with Barclays Stockbrokers

If you’ve taken advantage of your ISA and PEP allowances over the years, chances are that they’re held with a range of different providers. By consolidating your ISAs and re-labelled PEPs into a Barclays Stockbrokers Investment ISA they will retain their tax benefits and you’ll have greater control.

Not only will you be able to monitor your accounts at a glance, but you’ll also have access to a wide range of investment products, advanced research and trading tools to help you make the most of your investments.

Find out more

For more detailed information on how to merge your accounts please contact us on 0845 601 7788†.

Already an existing client?

Download an ISA Transfer Form and we’ll pay up to £500* of any transfer or handling fees.

ISA Transfer Form

New to Barclays Stockbrokers?

Open an Investment ISA account today and take advantage of your tax allowance for the current tax year and then transfer existing investments

Open an Investment ISA

Investment Notes

Innovative structured products that give returns linked to the value of assets or indices, with varying levels of capital protection on maturity.

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Funds

Spread your risk with our Funds Market and have the ISA admin fee waived – select from more than 675 funds from 33 Funds Managers.

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5 reasons to transfer your ISAs to Barclays Stockbrokers

1. New lower annual ISA administration charges from £30 to £50. Fees will be charged six monthly (plus VAT) in arrears in line with the existing process

2. We’ll refund your transfer fees up to £150 per account, to a maximum of £500*. For more information call us on 0845 601 7788†.

3. Online trading commission is just £6.95 per online trade when you trade 25 times or more in a calendar month, and £9.95 for between 15 and 24 trades; otherwise it's £12.95.

4. Choose from an unrivalled range of products including Equities, Funds, Investment Notes and iShares to meet your investment objectives.

5. Get a single view of your accounts online 24 hours a day, 7 days a week.

*We will refund you when your ISA account is opened and we have received proof of transfer costs from your previous broker. This process normally takes around four weeks. Payment will be made to your chosen bank account or by cheque if this does not apply. Barclays Stockbrokers reserves the right to terminate or amend this offer at its discretion. We will refund up to £150 per account of transfer out costs charged by the ceding ISA Provider, up to a maximum of £500 per customer.

†Calls made to 0845 numbers will cost no more that 4p per minute, plus 6p call set-up fee (current as at November 2007) for BT residential customers. The price on non-BT phone lines may be different.

Barclays Stockbrokers is the group name for the businesses of: Barclays Stockbrokers Limited, a member of the London Stock Exchange and PLUS. Registered No 1986161; Barclays Sharedealing, registered No. 2092410; Barclays Bank Trust Company Limited, registered No. 920880. All companies are registered in England and the registered address is 1 Churchill Place, London E14 5HP. All companies are authorised and regulated by the Financial Services Authority.