As with all shares, there is compulsory government stamp duty on purchases and a different buying and selling price applies. For every £100 of SIT stock purchased, 50p is paid in government stamp duty (which is currently levied at the rate of 0.5% of the amount invested).
No Annual Management Charge
No annual management charge is paid to SIT when you invest through STOCKPLAN.
As in any public limited company (PLC), the overheads of running SIT are clearly identified as expenses in the Annual Report. They are paid directly out of the income of the trust, they not levied from the investor. SIT dividends are paid to stockholders after these costs have been met. Please refer to our Key Features document for details of current expenses and their effect on an investment.
STOCKPLAN is a suitable investment vehicle for any number of long term financial goals, including:
Creating a pension supplement
Funding for educational expenses
Providing an investment for children or grandchildren
For home improvements, for trading up to a new home or helping to pay off a mortgage
The Challenge
Over time, investments must provide a real rate of return - after allowing for inflation. Historically, in some cases, interest only returns have had some difficulty in achieving this.
Banks and building societies are the ideal home for liquid funds; money that may be required on short notice in the not-too-distant future. But equities also have their place, especially over the long term planning horizon. History suggests that over the long term the stockmarket can be one of the best places to generate wealth.
Please remember that in a bank or building society account your capital is secure. The value of stockmarket investments can go down as well as up and you may not get back the amount originally invested.
If you are unsure as to the best time to invest and would like to spread your investments over time, investing regularly every month may be the best option. You can invest from as little as £25 per month. You can increase or decrease the amount you pay each month, subject to the £25 minimum. There is no maximum limit to the amount you can invest each month.
Lump Sum Investment
You can start your STOCKPLAN with a lump sum from as little as £250. There is no maximum limit to the amount you can invest in the scheme. Additional lump sums (minimum £250, there is no maximum) can be added at any time.
Combine Monthly and Lump Sum
Monthly investors can also add lump sums (minimum £250) at any time.
Designating your STOCKPLAN
STOCKPLAN also allows investment for another person, either an adult or a child, or for a specific purpose. For example, parents and grandparents often set up a STOCKPLAN in the name of a child, to fund educational expenses or to provide a future investment.
You can apply for your STOCKPLAN by completing the Application Form which can be found at the back of our STOCKPLAN brochure or by downloading it from this website.
Return the completed and signed STOCKPLAN Application Form to our STOCKPLAN Administrator, together with your personal cheque, for the lump sum or the first month’s instalment, drawn on an account in your name, payable to SIT STOCKPLAN, and a completed Direct Debit instruction (if applicable).
Please don’t forget to read the Key Features and Terms and Conditions that apply to STOCKPLAN before completing your application form.
Our Administrator will, upon receipt of funds, a valid application form and confirmation of identity, invest on the next normal dealing day. The Administrator will issue a welcome pack to confirm your STOCKPLAN application followed by a contract note.
HOW TO MAKE ADDITIONAL LUMP SUM INVESTMENT INTO STOCKPLAN
Additional lump sums (minimum £250, there is no maximum) can be added at any time.
Simply write to the administrator quoting your STOCKPLAN account code and enclosing a personal cheque drawn on an account in your own name made payable to SIT STOCKPLAN. Alternatively, you can telephone the Administrator on 0845 850 0181 to make a lump sum investment using your debit card (Mastro or Delta).
Purchases of stock units are made daily.
SIT STOCKPLAN
Halifax Share Dealing Ltd
Trinity Road
Halifax
West Yorkshire
HX1 2RG
Our products are aimed at United Kingdom residents or citizens only and the information contained within the site is for access by United Kingdom residents or citizens only.
Before proceeding, you are strongly recommended to read the sections entitled Legal (which contains the legal and regulatory restrictions which apply to your use of, and the investments referred to in, this website) and Privacy Policy (which describes the means by which we collect and use your data and also explains our use of cookies on this website).
