Tax Year End 2009/2010 - Important Information

15 February 2010

The end of the current tax year falls over the Easter Bank Holiday weekend this year.

If you want to make a contribution in the current tax year to your existing SIPP with James Hay, please ensure that your contribution payment is received by us before the end of the tax year. If you do not already have a SIPP with James Hay, you will also need to send in a completed SIPP Application Form with your payment.

If you have a Wrap with James Hay and want to make an ISA subscription for the current tax year, please remember that we must be in receipt of both cleared monies and a valid ISA application form before the end of the tax year. If you are uncertain whether James Hay has an existing ISA application for you for the current tax year, it is safest to include a new ISA application form to avoid the possibility of your subscription being rejected.

If you want to realise investments held in your Wrap Investment Portfolio to fund your ISA subscription, you must ensure that cleared monies are available within your Investment Portfolio in good time, with an instruction to transfer monies to the ISA and that a valid ISA application is held.

For James Hay to ensure that all ISA subscriptions and SIPP Contributions are promptly processed, it would be helpful to send your documentation and monies as soon as possible.

All ISA and SIPP forms can be found in the literature section of this web site, but if you would like further help with your tax year end requirements, please call us on 0845 850 4455.

Whilst the last working day of the tax year is 1^st April and our offices will be closed from 2^nd to 5^th April, we will be able to process any items received in the last post of the tax year that will be received on Saturday 3^rd April.

Transfers

If you wish to transfer monies from other pension schemes before taking benefits in the current tax year, please contact us as soon as possible with the relevant scheme details (see the 'Transfer Form' in the literature section of our website). We are reliant on the transferring scheme to release the monies and provide us with the required paperwork, so cannot guarantee that the monies will be available for benefits before the deadline.

Income Changes

To request changes to income in the current tax year, instructions have to be received in writing by 18th March 2010.

If there are insufficient monies in the SIPP bank account to enable the income payment to be made on 1^st April 2010, the income payment will be moved to the 1^st May 2010 payroll.

Therefore, please monitor the SIPP bank account and/or disinvestment preferences to ensure there are sufficient monies to pay all future income payments and any fees due. Due to our tax year end processing, no income payments will be made between 2^nd April 2010 and the 1^st May 2010 payroll.