Your guide to the 2017/2018 tax year end

As the tax year end approaches there are a number of key dates for you to be aware of, which you’ll find below.

We’ve also included a section to provide some practical tips to help the tax year end go as smoothly as possible for you.

Existing and new clients


Type of application



Contributions and subscriptions - for existing clients

Cheques - 5:30pm Thursday 5 April 2018

BACS / CHAPS - 11:59pm Thursday 5 April 2018

For transfer instructions from a GIA to a client’s ISA or SIPP - 5:30pm Thursday 5 April 2018

Before you submit an ISA payment a valid ISA Declaration must be in place. A simple way to check whether there's a valid declaration in place is by looking into the cash account history for the client's ISA. If no cash assets have been received for the previous tax year, this will be confirmed and a new ISA Declaration is needed.

You can also check how much of their allowance your clients have left. The easy way to do this is to run the 'Available ISA Subscription' report, from Admin Reporting, which details subscriptions remaining for the ISA, along with partial subscriptions.

Please ensure all electronic payments contain the client reference number and wrapper name as the payment reference, for example - 12345678 ISA. If an incorrect reference number is provided it may slow down the application and in some instances we may have to return the payment. If the wrapper name isn’t quoted we will place the money into a GIA. It will then remain in the GIA unless you move it into the ISA, or you instruct us before 5.30pm on Thursday 5 April to process a cash movement on your behalf.

For all ISA subscriptions a valid Ascentric ISA Application Form for the 2017/18 tax year must be in place. You can download one from here.


Bed & ISA (Funds)

5:30pm Wednesday 28 March 2018

Please be aware that some funds don’t trade on a daily basis and therefore it may take longer to receive confirmation of the proceeds. You should bear this in mind when placing sales on client accounts and ensure you sell down in plenty of time to fund a Bed & ISA or payment out.


Bed & ISA (Equities)

5:30pm Wednesday 28 March 2018


Income requests, for clients currently in income drawdown, for income to be paid on 1 April 2018. This is the last income payroll of this tax year.

5:30pm Wednesday 21 March 2018

Please ensure there is sufficient cash to make the requested Tax Free Lump Sum/income payments. You should also be aware that any payments that fail due to a lack of funds, run the risk of losing GAD/income allowance for that income year where the arrangement anniversary falls in April.

Further information on Bed & ISA can be found below.

New clients only

All new client applications must be signed and received in our office by 5:30pm Thursday 5 April, to be set up in the 2017/2018 tax year.

In what is often one of the busiest times of the year for all of us, there are a few things to be aware of that may help take away some of the pressure.

  • At this time of year we often see increases in employer contributions. If an employer contribution is changing, please complete a new Employer Contribution Form. We’re not able to allocate these contributions until we’ve received the form, so it’s important that you send this to us as soon as you can.
  • It’s also vital that all SIPP and ISA payments clearly state which wrapper they’re intended for. If we don’t have the information to tell us which wrapper to apply it to, then we have to move the payment into the GIA, which is our default.
  • For regular withdrawals you should ensure you have the cash available to make the withdrawal. And you need to make sure it’s in the deposit account to ensure a successful payment.

When submitting ISA business there are a few things to be aware of:

  • If we receive ISA forms that have been incorrectly completed we will always endeavour to contact you as soon as we can. If we’re unable to contact you we will place the cash into a GIA, so that it can be moved into an ISA for the next tax year.
  • We can accept ISA Declarations via email or post, but if you do email them to us, there’s no need to post the hard copy as well. Sending the hard copy after emailing it can actually slow the process down as we have to spend time reconciling the two. So, one or the other please, and not both.

A popular way to use up any remaining ISA allowance is by using our Bed & ISA service – selling an investment in the GIA and using the proceeds to buy back the investment within a new or existing ISA.

The process of moving cash from a GIA to an Ascentric ISA within the same client account can be carried out online, without the need to contact us, by following these steps:

1. Choose the assets you would like to sell in the GIA to free up cash

​Please note that you’ll need to sell these assets before 28 March for both funds and equities.

2. ​Move the proceeds from the GIA to an existing ISA within the same client account.

This must be completed by 5.30pm Thursday 5 April and you can do this on the platform, through our online cash movement service, following the steps below:

Select the account and click on the ‘Online Cash Movement’ icon in the ‘Account Details’ card.

When the below ‘Cash Movement Request' screen appears, simply click ‘Create/Edit’.

Platform - Cash movement request

When the ‘Cash Movement’ screen appears simply:

  1. Tick the 'Between Wrappers' box. 
  2. Indicate where you wish the cash to be deducted from by selecting the relevant wrapper and cash account from the drop-down boxes 'From Wrapper' and 'Internal Payment From'.
  3. Indicate where the cash is to be credited to by selecting the wrapper and cash account from the drop-down boxes 'To Wrapper' and 'Internal Payment To'.
  4. Complete the remaining fields as required.
  5. Click 'Save'.

Platform - Cash movements

  1. The confirmation screen will then display the reference number for your client’s cash movement. Click 'OK'.

You can also find further information on this process in Section 1 in our Online Cash Movement User Guide

If you want to move cash from a GIA to an Ascentric ISA between two linked client accounts, please call our Client Services team on 0345 076 6140 by 5:30pm Thursday 5 April with the following information:

  1. Client name and ISA account number you wish to subscribe to. 
  2. The cash amount you wish to subscribe in the ISA. 
  3. Client name and GIA account number the cash is to be taken from. 

Alternatively you can email this information to our Client Services team by 11:59pm Thursday 5 April.

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