Add some global quality to your ISA

The tax burden in the UK is the highest faced since the Second World War. That’s why annual tax allowances are highly valuable.   Individual Savings Accounts can put aside up to £20,000 in the 2023/24 tax year and pay no income or capital gains tax on your investments – and there are other tax-efficient ways to invest too.  But remember, the tax year runs from the 6 April 2023 to 5 April 2024– and if you don’t use this year’s allowance, you will lose it.

Martin Currie Global Portfolio Trust is a ready-made portfolio of 30 high-quality companies, hand-picked for their long-term growth potential.  The team seek to invest in profitable, high-return businesses with low debt, pricing power and demonstrable competitive advantages.  

The portfolio includes some well recognised companies like drinks giant Pernod Ricard, semi-conductor pioneer ASML and payments provider, Mastercard, as well as some world-class brands like Ferrari and Moncler.

The Trust has just received an Elite rating from FundCalibre. And it’s highly rated for Environmental Social and Governance (ESG) too, achieving the highest possible ‘5 globes’ Sustainability RatingTM, from Morningstar, the independent ratings agency.

If you are looking to add some more quality to your existing investments, or starting your investment journey, consider global equities and Martin Currie Global Portfolio Trust. There are a host of tax-efficient wrapper products you can use.

Individual Savings Accounts (ISAs) and Self Invested Personal Pensions (SIPPs) are still a great way to invest in the stock market thanks to their flexibility and the tax benefits they offer.  Your annual ISA allowance is £20,000 and you won’t have to pay anything further to the taxman or even declare it on a tax return.

The annual allowance for SIPPs is currently £60,000 and they offer a range of advantages including tax relief and the ability to take some tax-efficient cash.  As they are more complicated, we recommend seeking financial advice before making any decisions.

Children have annual tax allowances too.  The Junior ISA allowance is £9,000 and the Junior SIPPs allowance is £3,600.  They offer the same benefits and tax advantages and are an easy way to take the first steps of an important investment journey.

One key point is that the money in Junior ISA can’t be accessed until the age of 18 when it becomes a ‘normal’ ISA and money in a Junior SIPP is safely locked away until retirement.  It’s an easy way for parents, grandparents, family members and friends to give children a helping hand in their financial future.

Lifetime ISAs can also help first time buyers. A Lifetime ISA is a flexible, affordable way to save and invest for your first home or later life. You can open one if you’re between 18 and 39 years old.

The information on this page is correct as at 22 February 2024 and relates to the 2023/2024 tax year. If you’re a Scottish taxpayer, tax rates and bands are different. Tax rules can change and benefits depend on personal circumstances.

*© 2023 Morningstar, Inc. All rights reserved. Morningstar Rating as of 31-01.2024.