Deadline for Isis nears

THE deadline for subscriptions to Ivory & Sime's new investment trust, Isis (Income and Savings Investment Schemes) is next Friday, 4 June.

Isis has ordinary shares for the public and convertible annuity shares aimed at the City. All the dividends from the ordinary shares will go to the convertibles.

Ivory & Sime plans to sell shares to provide the 7 per cent income. This will be classed, for tax purposes, as a capital gain. Investors will be able to set this against their annual capital gains tax allowance.

Information on 0800-441 441.