It's time to decide what steps to take next to ensure your funds continue to work for you.
The target interest rates for Bond Series Three were 5.75% per annum for the option with interest paid quarterly and 7.75% per annum for the option with interest paid at maturity, and the Bond is maturing having delivered these target rates. On 28th February, your original funds will be available – along with either your total interest gained or your final quarterly interest payment – in your CARLTON Bonds IFISA account.You can log in to your account today and check the performance of your investment and discover your total returns in the "Portfolio" section of your Dashboard.
When Bond Series Three matures and your capital and interest has been returned to your IFISA account, there are three individual options to consider in regards to what you do next.
Our new Bonds, Series Eleven and Twelve, will launch on 28th February 2024, the date that Series Three matures. This means you can seamlessly reinvest your funds under the IFISA tax wrapper once again.
You can withdraw your original capital and interest earned. However, when doing so, this will mean these funds can no longer form part of your overall ISA portfolio. You will lose the ability to reinvest this tranche and maintain the ISA status from the tax year invested.
You can transfer your funds out of the CARLTON Bonds IFISA to another ISA with a different provider. This could be an alternative IFISA with another provider, or a Cash ISA or Stocks and Shares ISA, again with alternative providers.
As your funds will be automatically deposited back into your CARLTON Bonds ISA wrapper once the Bond matures on 28th February, the process to reinvest is simple and straightforward.Our Series Eleven Bond will have a four year term, targeting an interest rate of 7.75% per annum for quarterly-based Bondholders and 10.00% per annum for maturity-based Bondholders.Bond Series Twelve will have a two year term, targeting an interest rate of 5.75% per annum for quarterly-based Bondholders and 8.00% per annum for maturity-based Bondholders.Bond Series Elevent and Twelve will be live when your Bond Series Three matures. Therefore, to reinvest, simply choose your preferred two or four year quarterly or maturity-based Bond and follow the process to invest, selecting the funds available within your ISA account once prompted.
You can transfer your funds out of the CARLTON Bonds IFISA to another ISA with a different provider. This could be an alternative IFISA with another provider, or a Cash ISA or Stocks and Shares ISA with another provider.The process for transferring your CARLTON Bonds IFISA is one that should be initiated from the receiving provider. Once we have received the request from the provider, we will provide all necessary information immediately.
Withdrawing your investment and interest earned from the ISA wrapper altogether is possible. However, doing so will mean these funds can no longer form part of your overall ISA portfolio and if you choose to reinvest them, they will form part of that year's ISA allowance.If you still wish to withdraw, simply navigate to "Banking" within your Dashboard, ensure you are looking at your "IFISA Account", select "Withdraw" and follow the on-screen instructions.
The tax year end is on the horizon and if you haven’t used this year’s annual ISA allowance there’s still time to do so on or before the 5th April 2024. The current allowance is £20,000 and remember: if you don’t use this allowance before 6th April 2024, you will lose it for this particular tax year.
We appreciate there are a number of options to consider and you may find it beneficial to arrange a call with our Head of Investor Relations, Dan Smith, to discuss your individual circumstances and options further.You can do so by arranging a time directly in Dan's diary at a time convenient for you.
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