Calling up investments

By THIS IS MONEY
Updated:

 

I have an approved BT Sharesave scheme just reaching maturity. I intend to take the shares from this but Halifax Sharedealing Services who operate the scheme are offering the chance to put the shares into a BT Isa.

As a higher-rate taxpayer would I benefit by putting some of my shares in the Isa or would I be better off putting some in my wife's name as she does not work and is exempt from tax? If I did take the Isa how would I track the performance? M S, Hertford

Kim North, independent financial adviser at Pretty Financial says: A higher-rate taxpayer should always hold shares within an Isa as this shields any profit from capital gains tax and income tax.

Performance will be tracked by six-monthly or annual statements sent to you by the Isa manager. In between you can check the prices on the internet or in newspapers.

If the BT shares are worth more than about £7,000 it makes sense to hold the balance in your non-taxpaying wife's name.

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