Terms and Conditions

1. 1. You can use this PROMPT tool to submit a Bed & ISA, CIA to CRA or ISA to CRA instruction if the withdrawal is from a single investor CIA or ISA into an ISA or CRA for that same person. You cannot use this tool if the withdrawal is from a jointly held, corporate or trust CIA.

Instruction timing and deadlines:

1. 2. For investments into a CRA, there will be at least one working day between the submission of the online application and the processing of the cross-wrapper transfer.
2. 3. For Bed & ISA instructions submitted towards the end of the tax year, specific deadlines apply depending on whether:
   • a. the CIA withdrawal and ISA investment are both required in the current tax year
   • b. the CIA withdrawal and ISA investment are both required in the new tax year.

How we will carry out your instruction

1. 4. If you ask us to sell all funds held in your client’s CIA or ISA, we will close the account and:
   • a. we will take any charges accrued under the CIA or ISA Terms and Conditions from the sale proceeds; and
   • b. we will invest the remaining proceeds in line with your instructions.
2. 5. If you ask for one or more entire asset(s) to be sold in full, and the balance for the ISA or CRA investment to be taken from another asset(s) we will deal with this as separate instructions. That is, we will sell the first asset then, when we know the amount raised, we will carry out a second sale, and so on, until the total amount requested has been raised.
3. 6. If the value of a specific fund is less than the amount you ask us to withdraw from it, we will try to contact you for further instructions. If we cannot contact you by the end of the working day following receipt of your instruction, we will sell the entire fund, which might mean the ISA or CRA investment is less than you intended.
4. 7. If we are carrying out another transaction on your client’s CIA, ISA or CRA that involves buying or selling units, subsequent transactions will be delayed if the first transaction is not complete when we receive your Bed & ISA , CIA to CRA or ISA to CRA instruction. The delay may be several working days and this may on occasion mean that we are unable to complete your client’s Bed & ISA, CIA to CRA or ISA to CRA for the current tax year.
5. 8. If the sale from the CIA or ISA means the entire CIA or ISA is being sold (see point 6), we will carry out the ISA or CRA investment in line with your instructions, once the fund managers have confirmed the fund prices and we know the total value of the sale proceeds.
6. 9. The ISA or CRA Investment will not be made on the same day as the CIA sale, where the sale for any asset is given as a monetary amount that is more than 90% of the asset’s value.
7. 10. The ISA or CRA investment will be funded by a withdrawal from the ceding CIA or ISA once the trades have been processed and prices known. The ceding CIA or ISA trade proceeds will be held as cash within the CIA or ISA pending withdrawal to the ISA or CRA. Please be aware that if any charges or fees due are deducted from the cash in your ceding CIA or ISA before the transaction is complete, your ISA or CRA investment could be less than intended.
8. 11. If you ask us to sell assets from your client’s CIA or ISA that are currently selected to meet withdrawals and/or fees and charges, and the sale(s) means we cannot deduct those payments in line with your instructions, we will sell the remaining funds from the CIA or ISA on the following basis:
   • a. Automatic withdrawals - will be taken from available cash first and then sold proportionally from all remaining funds held in the CIA or ISA
   • b. Adviser servicing fees and our Service Charge - will be taken from available cash first and then sold proportionally from all remaining funds held in the CIA or ISA.
9. 12. The withdrawal from the CIA may result in a Capital Gains Tax liability.
10. 13. If the sale requires us to sell 95% or more of the assets within the CIA or ISA, we will sell 100% of all assets and the remaining money, after the transfer has been completed, will be held as cash in the account.
11. 14. Selling specific funds from your client’s CA or ISA will cancel any automatic rebalancing in place on the account.

Declaration

This declaration is made by you as the financial adviser on behalf of your client

1. a) I apply to withdraw from my client’s CIA or ISA and subscribe to their ISA or CRA, in line with the online ISA or CRA application, the number for which is confirmed in this instruction.
2. b) I am authorised by my client to place this instruction and I authorise Quilter Investment Platform Limited to carry it out.
3. c) I confirm that there is no bankruptcy order against my client
4. d) I understand and accept that Quilter Investment Platform Limited reserves the right to check my authority with my client if deemed necessary.
5. e) I understand the instructions will be carried out under the ISA, CRA and CIA terms and conditions as appropriate.
6. f) I confirm you have brought to my attention the importance of reading the notes above before submitting this application and I have discussed them with my client as appropriate. I have read and accept these additional terms and conditions on behalf of my client.