AJ Bell Investcentre has streamlined its Bed and ISA process for advisers and clients as part of wider efforts to make flexible, tax efficient investing as seamless as possible.
The new process will involve just one online instruction from advisers by selling assets from clients’ taxable General Investment Account (GIA) and repurchasing them in an ISA or Lifetime ISA tax wrapper, while remaining invested in the market. There will also no longer be any dealing charge for Bed and ISA transactions instructed online.
As part of this new process, there will be a multi-pot functionality that allows advisers to handle movements between different ISA and GIA investment pots in one simple journey. Advisers will also have the option to oversell investments to ensure enough cash is raised to fully utilise their clients’ ISA allowance, further streamlining client portfolio management.
Following the recent announcement of changes to the tax system, including the uplift to the rate of dividend tax from April 2026 in Chancellor Rachel Reeves’ latest Budget and an increase to the rate of capital gains tax in 2024, there is even greater appeal in tax efficient investment solutions such as a Bed and ISA.
AJ Bell Investcentre will continue to develop enhancements to the Bed and ISA process, with additional new features being released throughout the year.
Mark Rendle, AJ Bell advised product director, says:
“With the last Budget unveiling increases to the rate of dividend tax to add to 2024’s hike to capital gains tax rates, not to mention the gradual depletion of tax-free allowances in the last few years, advisers will be seeing increased client demand for more tax efficient solutions to manage growing tax bills. One of the many ways advisers can do this is by carrying out a Bed and ISA transaction, which is why we’ve streamlined our Bed and ISA process to become one single online journey for advisers.
“Not only will this mean advisers can protect client wealth quickly and efficiently at the touch of a button but, crucially, there will also be no dealing charge applied for online Bed and ISA transactions. The result of this is a low-cost investment solution that makes the most of the ISA tax wrapper and helps to shield client money from an increasingly labyrinthine tax environment.”